Paccar Boosts Dividend
Paccar Inc. is raising its dividend 9%, or 2 cents per share, to 24 cents, reflecting its recent improvement in earnings.
Bellevue, Washington-based Paccar said July 8 that the board of directors approved the increase that is payable Sept. 14 to holders of its shares as of Aug. 14.
The company has raised its dividend by 165% in the past six years, the statement said.
“The increase in the quarterly dividend reflects Paccar’s excellent operating results,” Chairman Mark Pigott said. “In the first quarter of 2015, net income increased to $378.4 million [$1.06 per diluted share] as a result of increased truck sales in North America and Europe, and growth in financial services assets and aftermarket revenues worldwide.”
