PACCAR Announces Extra Cash Dividend and Regular Quarterly Dividend
December 6, 2011, Bellevue, Washington – PACCAR Inc’s Board of Directors today declared an extra cash dividend in the amount of seventy cents ($.70) per share, payable on January 5, 2012, to stockholders of record at the close of business on December 19, 2011. The Board of Directors also declared a regular quarterly cash dividend in the amount of eighteen cents ($.18) per share, payable on March 5, 2012, to stockholders of record at the close of business on February 17, 2012. PACCAR reported net income of $714.6 million ($1.95 per diluted share) for the first nine months of 2011. "The special dividend reflects the company's excellent growth in revenues and net income," said Mark Pigott, chairman and chief executive officer. "Increased truck production worldwide, growing financial services and aftermarket sales contributed to increased profits and over $1.15 billion of operating cash flow for the first nine months of 2011."
PACCAR truck deliveries in the fourth quarter 2011 are expected to be five to ten percent higher than the third quarter, although the economic uncertainty in Europe is causing some customers to defer their orders of new trucks. To facilitate global growth, PACCAR has begun construction of its new DAF assembly facility in Ponta Grossa, Brasil, opened its new PACCAR Technical Center in Pune, India, and expanded its office in Shanghai, China.
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 www.paccar.com.