PACCAR (NASDAQ:PCAR) is motoring straight ahead, at least as far as its dividend policy is concerned. The company has declared its latest payout, which will amount to $0.20 per share. This is to be distributed on June 5 to shareholders of record as of May 17, and it matches the company's most recent regular dividend, which was paid in March. The company also handed out an extra distribution of $0.80 per share in December 2012.
In the press release announcing the fresh dividend, PACCAR quoted President Ron Armstrong as saying the strength of its balance sheet has "enabled the company to invest over $1.5 billion in new products and services in the last two years," in addition to paying regular distributions.
The just-declared dividend annualizes to $0.80 per share. That yields 1.6% at PACCAR's current stock price of $49.83.
Fool contributor Eric Volkman has no position in PACCAR. The Motley Fool recommends and owns shares of PACCAR. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.