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Dec. 7, 2021, 1:25 p.m. EST

Paccar to pay out extra dividend of $1.50 a share, effectively boosting implied yield to above 3%

Paccar Inc. (NAS:PCAR) said Tuesday that shareholders of record on Dec. 17 will be paid an extra cash dividend of $1.50 a share on Jan. 5, 2022. The truck maker's stock slipped less than 0.1% in afternoon trading. The company also said it will pay its regular quarterly dividend of 34 cents a share on March 1, to shareholders of record on Feb. 8. Excluding the extra dividend, the regular annual dividend rate implied a dividend yield of 1.55% at current stock prices. That compares with the yield for the SPDR Industrial Select Sector ETF (PSE:XLI) of 1.23% and the implied yield for the S&P 500 (S&P:SPX) of 1.32%. Including the extra dividend, the implied yield for Paccar's stock jumps to 3.27%.

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