Paccar Sets Extra $2 Dividend, $300 Mln. Stock Repurchase
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“The stock repurchase program reflects the Board’s confidence in PACCAR’s successful global business growth,” said Mike Tembreull, Paccar’s vice chairman.
ruck maker Paccar Inc.’s board Tuesday declared an extra cash dividend of $2 per share and approved repurchase of $300 million of its outstanding common stock.
The dividend will be payable on Jan. 5 to stockholders of record at the close of business on Dec. 18. Paccar’s board also declared a regular quarterly cash dividend of 20 cents a share, to payable on March 5 to stockholders of record as of Feb. 16.
The company has repurchased 10 million of its shares in the past two years.
Paccar is the parent of Kenworth Truck Co. and Peterbilt Motors Co.
