Paccar raises dividend, to boost yield above 1.2%

Shares of Paccar Inc.

surged 1.7% into record territory in morning trading Tuesday, after the truck maker raised its quarterly dividend by 8%. The company said it will pay a quarterly dividend of 27 cents a share on Sept. 7 to shareholders of record on Aug. 17. Based on current share prices, the new annual dividend rate implies a dividend yield of 1.26%, which compares with the yield for the Industrial Select Sector SPDR exchange-traded fund XLI of 1.57% and the implied yield for the S&P 500 SPX of 1.55%.

surged 1.7% into record territory in morning trading Tuesday, after the truck maker raised its quarterly dividend by 8%. The company said it will pay a quarterly dividend of 27 cents a share on Sept. 7 to shareholders of record on Aug. 17. Based on current share prices, the new annual dividend rate implies a dividend yield of 1.26%, which compares with the yield for the Industrial Select Sector SPDR exchange-traded fund XLI of 1.57% and the implied yield for the S&P 500 SPX of 1.55%.

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