Image Source: PixabayPACCAR Inc (PCAR) recently increased its quarterly dividend by 11.11%, from 27 cents to 30 cents per share. The dividend will be paid on June 5 to shareholders of record on May 15. The ex-dividend date is May 14.PACCAR Inc’s contribution to my portfolio’s projected annual dividend income will increase by $18 to $180.I own 150 shares of the stock at an average cost basis of $53.33 per share. Following this increase, my yield on cost is 2.03% (PACCAR’s forward yield is 1.03% at $105.23 per share). Since I opened my PACCAR position in May 2022, the stock has produced annualized total returns of 64%, including $1,027.50 in dividend income. PACCAR Inc became my portfolio’s 50th Home Run stock in January 2024, when the stock doubled my original capital outlay.
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