PACCAR (PCAR) will pay a special cash dividend of $0.70 per share in 2020. This follows a special dividend of $2.30 per share in 2019. Because the company did not announce a dividend hike in both 2019 an 2020 the record of 9 straight calendar years of increases will end in 2020.

The special dividend is payable on January 6, 2021, to stockholders of record at the close of business on December 18, 2020. PACCAR pays a regular quarterly dividend of 32 cents per share.

“PACCAR has generated excellent shareholder returns and annual net income due to its industry leading premium-quality global products, strong growth of aftermarket parts and services, innovative use of technology, including e-commerce, and continued expansion of its financial services,” shared Mark Pigott, executive chairman. PACCAR has delivered annual dividends, including regular quarterly and extra cash dividends, totaling approximately 50% of net income for many decades. PACCAR’s average annual return to stockholders has outperformed the S&P 500 index in the past five-, fifteen- and twenty-year periods.

The regular annualized dividend rate of $1.12 per share yields 1.5% at at stock price of $86. The special dividend yields 0.8% at this stock price. PACCAR pays an estimated $443 million in dividends to shareholders annually.

PACCAR Inc (PACCAR) is a manufacturer of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. In North America, trucks are sold under the Kenworth and Peterbilt nameplates, in Europe, under the DAF nameplate and in Australia and South America, under the Kenworth and DAF nameplates. The Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles. The company’s Financial Services segment derives its earnings primarily from financing or leasing PACCAR products in North America, Europe and Australia. The company’s Other business includes the manufacturing and marketing of industrial winches.