Paccar Inc’s Board of Directors today approved an increase of 9% in the regular quarterly cash dividend from thirty-four cents ($.34) per share to thirty-seven cents ($.37) per share. The dividend will be payable on December 6, 2022, to stockholders of record at the close of business on November 15, 2022.
Mark Pigott, executive chairman, shared, “Paccar is achieving excellent business results in its strong 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, said, “Peterbilt, Kenworth and DAF’s new range of fuel efficient heavy- and medium-duty trucks and Paccar’s growing aftermarket parts and finance businesses are delivering excellent performance for our customers. Paccar is an industry technology leader in zero emissions trucks, autonomous vehicle development and connected truck services.”