PACCAR Inc’s (Nasdaq:PCAR) Board of Directors today declared an extra cash dividend in the amount of ninety cents ($.90) per share, payable on January 7, 2014, to stockholders of record at the close of business on December 20, 2013. The Board of Directors also declared a regular quarterly cash dividend in the amount of twenty cents ($.20) per share, payable on March 5, 2014, to stockholders of record at the close of business on February 14, 2014. “The special dividend reflects the company’s excellent revenues, net income and cash flow,” said Mark Pigott, chairman and chief executive officer. “Good truck production in North America and Europe, strong aftermarket parts sales and record PACCAR Financial Services profits generated net income of $837.1 million ($2.36 per diluted share) for the first nine months of 2013.”
PACCAR’s excellent balance sheet and intense focus on quality, technology and productivity have enabled the company to invest $5.6 billion in the last ten years to build new factories, parts distribution centers and introduce many new innovative products. Ron Armstrong, PACCAR president, said, “PACCAR’s launch of new Kenworth, Peterbilt and DAF on-highway and vocational vehicles complemented by new PACCAR MX-13 and MX-11 diesel engines positions the company well for future growth. The commencement of production at the new DAF assembly plant in Brasil will generate additional PACCAR sales in South America.”
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 diesel engines and provides financial services and information technology and distributes truck parts related to its principal business.
PACCAR shares are traded on the Nasdaq Global Select market, symbol PCAR, and its homepage is