PACCAR Inc, a global leader in truck manufacturing and transportation solutions, has announced an 8% increase in its regular quarterly cash dividend. The decision reflects the company's strong performance in truck markets worldwide and its commitment to rewarding shareholders. This article explores the details of the dividend increase and highlights PACCAR's exceptional growth and profitability.

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Dividend Increase Announcement

PACCAR's Board of Directors recently approved a dividend increase of 8% for its regular quarterly cash dividend. The dividend will rise from twenty-five cents ($.25) per share to twenty-seven cents ($.27) per share, showcasing the company's dedication to providing value to its shareholders. This announcement is a testament to PACCAR's ongoing success and its consistent efforts to enhance shareholder returns.

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Record Business Results

Mark Pigott, the executive chairman of PACCAR, expressed his enthusiasm about the company's record business results in truck markets worldwide. PACCAR's commitment to delivering strong dividends is evident in its long-standing practice of distributing approximately 50% of net income to shareholders through regular quarterly and extra cash dividends. This strategy has allowed PACCAR to exceed the S&P 500 index in terms of shareholder returns for the past 20 years.

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Global Growth and Profitability

Preston Feight, PACCAR's chief executive officer, attributed the company's excellent growth and profitability to several factors. He highlighted the success of PACCAR's new, premium quality truck models, including Kenworth, Peterbilt, and DAF, which have resonated with customers worldwide. Furthermore, PACCAR's expansion into new geographic markets, along with its focus on technology-enabled aftermarket solutions at PACCAR Parts and PACCAR Financial Services, have contributed significantly to the company's overall success.

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Enhancing Customer Operating Performance

PACCAR's trucks and transportation solutions play a vital role in enhancing customers' operating performance. By offering next-generation zero emissions, autonomous, and connected truck technologies, PACCAR has solidified its position as an industry leader. These advancements not only provide customers with efficient and reliable vehicles but also contribute to a more sustainable and connected future.