PACCAR Announces Regular Quarterly Cash Dividend and Extra Cash Dividend
December 10 2019 - 12:35PM
Business Wire
PACCAR Inc’s (Nasdaq: PCAR) Board of Directors today declared a
regular quarterly cash dividend of thirty-two cents ($.32) per
share, payable on March 3, 2020, to stockholders of record at the
close of business on February 11, 2020. The Board of Directors
declared an extra cash dividend in the amount of two dollars and
thirty cents ($2.30) per share, payable on January 8, 2020, to
stockholders of record at the close of business on December 20,
2019.
In December 2018, PACCAR’s Board of Directors approved the
repurchase of $500 million of PACCAR stock. Stock repurchases of
$430.5 million are remaining under this authorization as of
September 30, 2019.
Mark Pigott, executive chairman, shared, “PACCAR has generated
excellent shareholder returns due to its focus on premium-quality
products and processes, innovative use of technology, strong global
diversification and continued expansion of its financial services
and aftermarket parts businesses. PACCAR has delivered annual
dividends, including regular quarterly and extra cash dividends,
totaling approximately 50% of net income for many years.” PACCAR
stock has delivered a 45% total return this year compared to the
S&P 500 Index total return of 28%.
Preston Feight, chief executive officer, said, “PACCAR’s profits
and strong cash flow have enabled the company to invest in new and
expanded manufacturing and distribution facilities,
industry-leading products and new technologies. PACCAR’s excellent
2019 performance reflects strong global truck production and
continued global aftermarket parts growth.”
PACCAR is a global technology leader in the design, manufacture
and customer support of high-quality light-, medium- and heavy-duty
trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR
also designs and manufactures advanced diesel engines, provides
financial services and information technology, and distributes
truck parts related to its principal business. PACCAR shares are
listed on the NASDAQ Global Select Market, symbol PCAR. Its
homepage is www.paccar.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191210005867/en/
Ken Hastings (425) 468-7530 ken.hastings@paccar.com
PACCAR (NASDAQ:PCAR)
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