PACCAR Inc’s Board of Directors today declared an extra cash dividend of two dollars and eighty cents ($2.80) per share, payable on January 5, 2023, to stockholders of record at the close of business on December 16, 2022. Paccar also announced a split adjusted dividend hike of 25.1%, marking the second increase announced in 2022.
Mark Pigott, executive chairman, shared, “PACCAR has generated excellent shareholder returns and annual net income due to its industry-leading premium quality vehicles, strong growth of its aftermarket parts and financial services, and innovative use of technology to enhance customers’ operational performance.”
The Board of Directors also declared an increase to PACCAR’s regular quarterly cash dividend to twenty-five cents ($.25) on each newly-split share, payable on March 8, 2023 to stockholders of record at the close of business on February 14, 2023. PACCAR has increased its regular quarterly cash dividend 50% over the last five years. Preston Feight, chief executive officer, noted, “PACCAR has invested $7.3 billion in new and expanded facilities, innovative products and new technologies during the past decade. These investments have created an industry-leading truck range that delivers excellent fuel efficiency and low operating costs.”
PACCAR Inc’s Board of Directors today declared a 50 percent stock dividend of the Company’s common stock (i.e., one additional share for each two shares held). The new shares will be issued on February 7, 2023, to stockholders of record at the close of business on January 17, 2023.
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.