MRO Magazine

PACCAR Announces $300 Million Share Repurchase


September 23, 2015
By Business Wire News

BELLEVUE, Wash.

The PACCAR (Nasdaq:PCAR) Board of Directors approved the repurchase of an additional $300 million of its outstanding common stock. PACCAR recently completed its previously authorized $300 million share repurchase program. “PACCAR’s excellent net profits and strong cash flow make the company’s shares an attractive long-term investment,” said Ron Armstrong, chief executive officer. “The stock repurchase program reflects the Board’s confidence in PACCAR’s successful global business growth.”

“PACCAR has earned a net profit for 76 consecutive years and has paid a dividend every year since 1941,” said Bob Christensen, president. “PACCAR is a global leader in high-quality commercial vehicles, financial services, aftermarket customer support and information technology.” In the last ten years, the company’s shareholder return has averaged 9.8 percent, compared to the S&P 500 Index return of 7.2 percent.

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. PACCAR also designs and manufactures advanced diesel engines, provides financial services and information technology, and distributes truck parts related to its principal business.

PACCAR shares are listed on NASDAQ Global Select Market, symbol PCAR. Its homepage is www.paccar.com.

PACCAR
Ken Hastings, (425) 468-7530