Lear Keeps Dividend Steady at $0.17
Auto parts supplier Lear announced yesterday its second-quarter dividend of $0.17 per share, the same rate it paid last quarter after raising the payout 21% from $0.14 per share.
The board of directors said the quarterly dividend is payable on June 26 to the holders of record at the close of business on June 7. After emerging from bankruptcy protection, Lear initiated a $0.25-per-share dividend in 2011 and then split its stock 2-for-1 with the payout being made at the pre-split level. The dividend has been increased each year thereafter.
The regular dividend payment equates to a $0.68-per-share annual dividend yielding 1.1% based on the closing price of Lear's stock on May 16.
The article Lear Keeps Dividend Steady at $0.17 originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.