Paccar declares 50% stock dividend, raises regular quarterly cash dividend

Paccar announced that its board of directors declared a 50% stock dividend of the company’s common stock, meaning one additional share for each two shares held. The new shares will be issued on February 7, 2023, to stockholders of record at the close of business on January 17, 2023. The board of directors also declared an increase to Paccar’s regular quarterly cash dividend to 25c on each newly-split share, payable on March 8, 2023 to stockholders of record at the close of business on February 14, 2023. Preston Feight, CEO, noted, "Paccar has invested $7.3 billion in new and expanded facilities, innovative products and new technologies during the past decade. These investments have created an industry-leading truck range that delivers excellent fuel efficiency and low operating costs."