BELLEVUE, Wash.--(BUSINESS WIRE)--PACCAR Inc’s (Nasdaq: PCAR) Board of Directors today declared a 12 percent increase to the regular quarterly cash dividend to twenty-eight cents ($.28) per share from twenty-five cents ($.25), payable on June 5, 2018, to stockholders of record at the close of business on May 15, 2018.
“The increased quarterly dividend reflects PACCAR’s ongoing excellent business performance,” said Mark Pigott, PACCAR executive chairman. “Net income was $512.1 million ($1.45 per diluted share) in the first quarter of 2018 as a result of higher truck deliveries in North America and Europe, and strong growth in aftermarket parts worldwide.” PACCAR has earned a net profit for 79 consecutive years and has paid a dividend every year since 1941. PACCAR has increased its regular quarterly dividend by 40 percent in the last five years.
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.