PACCAR (PCAR) Declares Quarterly Dividend; Approves Additional $300 Million Stock Buyback
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PACCAR’s (Nasdaq: PCAR) declared a quarterly cash dividend in the amount of eighteen cents ($.18) per share, payable September 5, 2008, to stockholders of record at the close of business on August 18, 2008.
PACCAR also 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.” [SM]
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