BELLEVUE, Wash.--(BUSINESS WIRE)--The PACCAR (Nasdaq: PCAR) Board of Directors approved the repurchase of an additional $300 million of its outstanding common stock. PACCAR recently completed its previously authorized $300 million share repurchase program. “PACCAR’s excellent net profits and cash flow deliver good returns for its shareholders,” said Mark Pigott, executive chairman. “The company’s shareholder return has averaged 12.5 percent in the last fifteen years, compared to the S&P 500 Index return of 9.5 percent.”
“The stock repurchase program reflects the Board’s confidence in PACCAR’s successful global business growth,” said Ron Armstrong, chief executive officer. “PACCAR has earned a net profit for 79 consecutive years and has paid a dividend every year since 1941.”
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 NASDAQ Global Select Market, symbol PCAR. Its homepage is www.paccar.com.