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December 6, 2017 1:15 PM, EST
Paccar Declares Extra Cash Dividend

Paccar Inc. declared an extra cash dividend of $1.20 per share, payable Jan. 4 to stockholders of record at the close of business Dec. 14.

That comes in addition to the company’s regular quarterly cash dividend of 25 cents per share, payable March 6 to stockholders of record at the close of business Feb. 13, according to the Bellevue, Wash., truck maker.

Paccar’s North American Class 8 brands include Kenworth Truck Co. and Peterbilt Motors Co.

“Paccar’s profits and strong cash flow have enabled the company to invest in its industry-leading vehicles and powertrain, enhance its advanced driver assistance systems and connected truck technologies, expand its manufacturing facilities and aftermarket distribution centers, and pay dividends every year since 1941,” Chairman Mark Pigott said in a statement.

The combined Class 8 market share of Kenworth and Peterbilt through October climbed to 30.6% compared with 28.7% in the 2016 period, according to WardsAuto.com.