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

Paccar Inc. /zigman2/quotes/207923670/composite PCAR -1.28% 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 /zigman2/quotes/202026558/composite XLI -0.52% of 1.23% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.04% of 1.32%. Including the extra dividend, the implied yield for Paccar's stock jumps to 3.27%.

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Paccar Inc.

US : U.S.: Nasdaq

$ 110.18

-1.43 -1.28%

Volume: 1.62M

Feb. 3, 2023 4:00p

P/E Ratio

12.76

Dividend Yield

1.36%

Market Cap

$38.32 billion

Rev. per Employee

$1.01M

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Industrial Select Sector SPDR ETF

US : U.S.: NYSE Arca

$ 102.85

-0.54 -0.52%

Volume: 13.57M

Feb. 3, 2023 4:00p

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,136.48

-43.28 -1.04%

Volume: 0.00

Feb. 3, 2023 4:54p