PACCAR Increases Regular Quarterly Dividend

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04/27/2021 - 05:55 PM

PACCAR Inc’s Board of Directors today approved an increase of 6% in the regular quarterly cash dividend from thirty-two cents ($.32) per share to thirty-four cents ($.34) per share. The dividend will be payable on June 2, 2021, to stockholders of record at the close of business on May 12, 2021.

Mark Pigott, executive chairman, shared, “PACCAR has benefited from increased share in the North American and European truck markets, as well as steady growth in its aftermarket parts and finance segments. PACCAR has delivered annual dividends, including regular quarterly and extra cash dividends, totaling approximately 50% of net income for many years. Dividends are an important element of PACCAR’s shareholder returns, which have exceeded the S&P 500 index for the last 15 years.”

Preston Feight, chief executive officer, said, “PACCAR introduced the next generation Kenworth T680 and Peterbilt Model 579 trucks in the first quarter. The vehicles offer enhanced aerodynamics providing up to 7% increased fuel efficiency, Advanced Driver Assistance Systems and 15” configurable digital displays. Peterbilt and Kenworth also introduced new medium-duty trucks with an eight inch wider cab, easier entry and a premium interior. DAF has begun production of CF Electric trucks in the European market. Customer demand for PACCAR trucks, aftermarket parts and financial services is very strong.”

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.