PACCAR (PCAR) Announces Quarterly Cash Dividend Of 18c; Approves A $300 Million Buyback

July 8, 2008 2:46 PM EDT

PACCAR's (Nasdaq: PCAR) Board declared a quarterly cash dividend in the amount of eighteen cents ($.18) per share, payable September 5, 2008, to stockholders of record at the close of business on August 18, 2008, according to Mark C. Pigott, PACCAR chairman and chief executive officer.

The PACCAR Board of Directors today approved the repurchase of an additional $300 million of its outstanding common stock. PACCAR is nearing completion of its previously announced $300 million share repurchase program. PACCAR has invested $1.24 billion to repurchase 33 million shares and paid $2.26 billion in dividends since January 2005. "PACCAR's strong net profits and excellent cash flow make the company's shares an attractive long-term investment," said Mike Tembreull, vice chairman. "The stock repurchase program reflects the Board's confidence in PACCAR's successful global business growth." PACCAR has earned a net profit for 69 consecutive years and has paid a dividend every year since 1941. PACCAR has established itself as a global leader in financial services, aftermarket customer support, information technology and lean manufacturing.

PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates.
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