PACCAR Inc. PCAR announced that its board approved a 14% increase in its quarterly cash dividend on common stock to 32 cents per share from the earlier payout of 28 cents. The revised dividend will be paid on Mar 5 to shareholders of record as of Feb 12, 2019. The board declared an additional cash dividend of $2 per share. The extra dividend will be paid on Jan 4, 2019, to shareholders of record as of Dec 14, 2018.Over the past 20 years, PACCAR has been increasing its quarterly dividends on an average of 11% a year. The company’s annual dividends comprise of regular quarterly dividends beside additional cash dividends, which totaled roughly 50% of net income in several past years.Apart from paying regular cash dividends, the company engages in stock repurchase programs. Its board approved a share buyback of worth $500 million. The new buyback program will be effective upon the completion of the existing stock repurchase program worth $300 million. Under the current program, the company is left with $124.8 million from the total amount of $300 million.PACCAR Inc. Price and Consensus PACCAR Inc. Price and Consensus | PACCAR Inc. QuoteNotably, PACCAR had cash and cash equivalents of around $2.9 billion at the end of third-quarter 2018 compared with $2.3 billion in the prior-year quarter. A strong cash flow assists the company to reward shareholders through share buybacks and regular dividend payouts.PACCAR’s Truck and Parts’ divisions are witnessing continuous increases in sales. Of late, the company’s truck delivery is positively driven by increased build rates in North America. Further, a good price realization is offsetting the impacts of material and labor costs. In 2018, PACCAR anticipates Europe’s greater than 16-tonne truck sales to be 310,000 to 320,000 units while Class 8 truck sales in the United States and Canada are expected to be 280,000-290,000 units.Growing number of PACCAR’s trucks and engines in the market, along with the company’s investments to keep developing technologies and increasing parts distribution capacity, is leading to this revenue escalation and income generation.Price PerformanceOver the past three months, PACCAR’s stock has lost 14.1%, underperforming 9.7% increase recorded by the industry it belongs to. Zacks Rank & Key PicksPACCAR currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are Toyota Motor Company TM, Cooper Tire & Rubber Company CTB, and General Motors Company GM, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Toyota has an expected long-term growth rate of 6%. Shares of the company have increased 1.3% over the past three months.Cooper Tire has an expected long-term growth rate of 4%. Shares of the company have rallied 8% over the past three months.General Motors has an expected long-term growth rate of 8.5%. Over the past three months, shares of the company have gained 7.7%.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.Click here for the 6 trades >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report General Motors Company (GM): Free Stock Analysis Report PACCAR Inc. (PCAR): Free Stock Analysis Report Toyota Motor Corporation (TM): Free Stock Analysis Report Cooper Tire & Rubber Company (CTB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research