July 11, 2011, Bellevue, Washington – PACCAR’sBoard of Directors today declared a 50 percent increase to the quarterly cash dividend to eighteen cents ($.18) per share from twelve cents ($.12), payable September 6, 2011, to stockholders of record at the close of business on August 18, 2011.
“The increase in the quarterly dividend reflects continued improvement in PACCAR’s operating results,” said Mark Pigott, chairman and chief executive officer. “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 has earned a net profit for 72 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 three-, five- and ten-year time periods.
“PACCAR successfully launched the DAF CF range in Chile, Ecuador and Peru this year. In addition, we continue to evaluate potential factory sites in Brazil for a DAF assembly facility. The South American truck markets are growing and are expected to provide excellent long-term opportunities for PACCAR,” said Bob Christensen, PACCAR executive vice president.
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.