BELLEVUE, Wash.--(BUSINESS WIRE)--PACCAR Inc’s Board of Directors today approved an increase of 8% in the regular quarterly cash dividend from twenty-five cents ($.25) per share to twenty-seven cents ($.27) per share. The dividend will be payable on September 7, 2023, to stockholders of record at the close of business on August 17, 2023.
Mark Pigott, executive chairman, shared, “PACCAR is achieving record business results in its truck markets worldwide. PACCAR has delivered annual dividends, including regular quarterly and extra cash dividends, totaling approximately 50% of net income for many years. PACCAR’s shareholder returns have exceeded the S&P 500 index for the last 20 years.”
Preston Feight, chief executive officer, commented, “PACCAR’s excellent global growth and profitability are benefiting from the success of new, premium quality Kenworth, Peterbilt and DAF trucks, geographic expansion, and technology-enabled aftermarket solutions at PACCAR Parts and PACCAR Financial Services. PACCAR’s trucks and transportation solutions are enhancing customers’ operating performance. PACCAR is an industry leader in next generation zero emissions, autonomous and connected truck technologies.”
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 powertrains, 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.