PACCAR Inc’s (Nasdaq:PCAR) Board of Directors today declared an increase to the regular quarterly cash dividend to twenty-two cents ($.22) per share from twenty cents ($.20), payable on June 5, 2014, to stockholders of record at the close of business on May 19, 2014.
“The increase in the quarterly dividend reflects PACCAR’s strong operating results,” said Mark Pigott, PACCAR executive chairman. “In the first quarter of 2014, net income increased to $273.9 million ($.77 per diluted share) as a result of increased truck sales in North America and growth in financial services assets and aftermarket revenues worldwide.” PACCAR has earned a net profit for 75 consecutive years and has paid a dividend every year since 1941. The company’s stock has outperformed the Standard & Poor’s 500 index for the previous one-, five-, ten- and twenty-year time periods.
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, 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 www.paccar.com.