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 +0.04% 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 -0.40% of 1.23% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.81% 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

$ 92.34

+0.04 +0.04%

Volume: 241,737

Jan. 21, 2022 10:28a

P/E Ratio

18.34

Dividend Yield

1.48%

Market Cap

$32.04 billion

Rev. per Employee

$862,996

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Industrial Select Sector SPDR ETF

US : U.S.: NYSE Arca

$ 101.73

-0.41 -0.40%

Volume: 5.34M

Jan. 21, 2022 10:29a

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S&P 500 Index

US : S&P US

4,446.54

-36.19 -0.81%

Volume: 717.18M

Jan. 21, 2022 10:29a