Truck manufacturer Paccar Inc. (NASDAQ: PCAR) declared an extra cash dividend of $2.30 per share payable Jan. 8, 2020, to stockholders of record on Dec. 20.
The special dividend, approved by the company’s Board of Directors on Dec. 10, won approval along with a regular quarterly cash dividend of 32 cents per share, payable on March 3, 2020, to stockholders of record at the close of business Feb.11, 2020.
“Paccar has delivered annual dividends, including regular quarterly and extra cash dividends, totaling approximately 50% of net income for many years,” said Mark Pigott, executive chairman.
Paccar manufactures light-, medium- and heavy-duty trucks under the Peterbilt Motors and Kenworth Truck Co. brands in North America and DAF trucks in Europe. It also designs and manufactures advanced diesel engines, provides financial services and information technology, and distributes truck parts.
A Kenworth W990 Class 8 truck recently hauled the Christmas tree for the U.S. Capitol from New Mexico to Washington.
“Paccar’s profits and strong cash flow have enabled the company to invest in new and expanded manufacturing and distribution facilities, industry-leading products and new technologies,” said Preston Feight, Paccar CEO.
In December 2018, the Board of Directors approved the repurchase of $500 million of company stock. Of that amount, $430.5 million remained for buybacks as of Sept. 30.
Jose L Morales
Paccar in my experience with a 2018 Pete breakdowns especially DEF system over $20000 in repairs and still having problems always sensors and very expensive parts.
Noble1
Now you know how they can afford to pay out a “special” $2.30 per share dividend to shareholders rather than use that cash to improve on their equipment designs to better serve their CONsumers .
It’s thanks to your “CONsumer CONtribution” through the purchase of their unreliable equipment .
In my humble opinion …………….
ROBERT WALKER
Nice work
Stephen Rowland
My address is 306north Street Apt b Meadville PA,16335 thank u
Stephen Rowland
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