BELLEVUE, Wash.–(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.