PACCAR declared cash dividends of $1.58 per share during 2012, including a fourth quarter special dividend of $.80 per share. Total dividends declared in 2012 increased by 22 percent compared to 2011. PACCAR has paid a dividend every year since 1941. PACCAR’s total shareholder return was 25.1 percent during 2012.
Business Highlights – 2012
- PACCAR delivered 140,400 vehicles worldwide and introduced the Kenworth T680, Peterbilt Model 579 and DAF XF Euro 6.
- PACCAR continued to expand its geographic footprint by beginning construction of a new DAF assembly plant in Brasil, generating record sales in Russia and delivering over 6,000 trucks to the Andean region of South America.
- PACCAR invested $790.3 million in capital projects and research and development.
- PACCAR was ranked 20th in InformationWeek magazine’s 2012 Top 500 company listing.
- The DAF CF85 earned the U.K.’s Motor Transport award for “Fleet Truck of the Year” for the eleventh time.
- The Peterbilt Model 210 and Model 587 earned the American Truck Dealers Medium- and Heavy-Duty Commercial Truck of the Year awards.
- Kenworth Trucks ranked highest in the J.D. Power Heavy Duty Dealer Service Customer Satisfaction Study sm* for the second consecutive year.
- Leyland Trucks was honored with the Manufacturing Leadership Award for Operational Excellence in the annual Manufacturing Excellence Awards.
- PACCAR has implemented 19,300 Six Sigma projects since 1997.
Stock Repurchase Update
During 2012, PACCAR repurchased 4.19 million of its common shares for $162.1 million. Under the current Board of Directors resolution authorizing $300 million of stock repurchases, PACCAR has repurchased 4.99 million shares for $192.0 million. “PACCAR’s excellent net profits and strong cash flow make the company’s shares an attractive long-term investment. The stock repurchase program reflects the Board’s confidence in PACCAR’s successful global business growth,” said Bob Christensen, PACCAR chief financial officer and executive vice president. PACCAR’s shareholder return averaged 16.2 percent per year in the last ten years, compared to the S&P 500 Index average annual return of 7.1 percent for the same period.