Paccar Hikes Dividend 33%

PACCAR Inc. (PCAR) has declared a 33% rise in its quarterly dividend payment from 9 cents to 12 cents per share. The hiked dividend will be paid on December 6, 2010 to shareholders of record as of November 19, 2010. The management has asserted that the rise in dividend is mainly driven by the company’s impressive performance in the last two quarters.In the first half of the year, the company’s profit more than tripled to $167.9 million or 46 cents per share from $52.8 million or 14 cents per share in the same period a year ago. The improved results were attributable to stronger truck sales around the world, especially with the company’s DAF nameplates, as well as a rise in Financial Services profits.... Read more

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