PACCAR Gives Investors a 50% Dividend Increase

July 11, 2011   |  Written by: admin

PACCAR announced today that the company will give their investors a 50 percent quarterly dividend increase to $.18 per share.

Following the dividend increase, PACCAR stock will offer a current yield of 1.4 percent based on Friday’s closing price.

PACCAR has now paid a dividend to their investors for 70 consecutive years.

Mark Pigott, PACCAR chairman and chief executive officer, commented on the dividend increase, “The increase in the quarterly dividend reflects continued improvement in PACCAR’s operating results. In the first quarter of 2011 net income increased to $193.3 million ($.53 per diluted share) as a result of improved commercial vehicle markets in Europe and North America.”

PACCAR stock price has declined 9 percent since the beginning of 2011 and today’s dividend news has failed to generate buying interest. The PCAR stock was down 3.5 percent in afternoon trading.

The PACCAR dividend will be payable on September 6, 2011 to shareholders of record as of August 18, 2011.

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