PACCAR Declares Special $3.00 Dividend Amid Strong Financial Performance
Bellevue, Wednesday, 11 December 2024.
PACCAR Inc announces a $3.00 per share special dividend, underscoring robust growth in manufacturing and services sectors, payable on January 8, 2025, to December 20, 2024, stockholders.
Dividend Details and Timeline
PACCAR Inc (NASDAQ: PCAR) has announced a significant extra cash dividend of $3.00 per share [1][5], demonstrating the company’s strong financial position. This special dividend will be distributed to stockholders of record as of December 20, 2024, with the payment scheduled for January 8, 2025 [1][5]. The announcement comes alongside a separate increase in the company’s regular quarterly dividend, which saw a 10% boost from $0.30 to $0.33 per share [2][3].
Strong Financial Performance
The company’s ability to offer this substantial special dividend stems from its excellent performance across multiple business segments. Executive Chairman Mark Pigott attributes this success to PACCAR’s industry-leading vehicles, robust growth in aftermarket parts, and financial services divisions [1][5]. The company has maintained an impressive track record of delivering annual dividends, including regular quarterly and extra cash dividends, totaling approximately 50% of net income over many years [2][3].
Investment in Innovation and Growth
CEO Preston Feight emphasized that PACCAR’s strong profits and cash flow have enabled significant investments in premium quality vehicles across its DAF, Kenworth, and Peterbilt brands [1][5]. The company continues to advance its position as a global technology leader through investments in advanced powertrains, next-generation vehicle technologies, and expanded manufacturing facilities [5]. This commitment to innovation has contributed to PACCAR’s consistent outperformance of the S&P 500 index over the past 20 years [2][3].