PACCAR (PCAR) Declares 12% Hike In Quarterly Stock Dividend
Zacks Investment Research | May 02, 2018 09:46PM ET
PACCAR Inc. (NASDAQ:PCAR) announced that its board has approved a 12% increase in the company's quarterly dividend on common stock to 28 cents per share from the earlier payout of 25 cents per share. The revised dividend will be paid on Jun 5 to shareholders of record as of May 15, 2018.
Per management, increase in dividend showcases its continuing exceptional business performance. Further, the company has been paying regular dividends since 1941 and increased the payout by 40% in past five years.
In first-quarter 2018, the company’s net income was $512 million due to increased truck deliveries in Europe and North America, along with a strong performance by the aftermarket parts segment across the globe.
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