Paccar Boosts Dividend
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Paccar’s profit rose 23% to $515.5 million, or $2.95 a share, in the first half as the industry's North American sales of the largest commercial trucks rose 33%.
ruck maker Paccar Inc. boosted its quarterly dividend 19% to 25 cents a share following record profits in the first half of the year.
The higher dividend will be payable Dec. 5 to shareholders of record as of Nov. 17, Paccar said in a statement. The increase is the second this year after Paccar raised its payout to 21 cents from 20 cents in April.
Paccar is the parent of Kenworth Truck and Peterbilt Motors.
“Paccar has earned a net profit for 66 consecutive years and has paid a dividend every year since 1941,” chief executive officer Mark Pigott said in the statement.
