Lear Raises Quarterly Dividend to $0.77 per Share

Rhea-AI Summary

Lear Corporation (NYSE: LEA) announced an increase in its quarterly cash dividend from $0.50 to $0.77 per share, returning to pre-pandemic levels. The dividend will be payable on December 29, 2021, to shareholders of record as of December 10, 2021. Non-Executive Chairman Gregory C. Smith stated that the increase demonstrates the Board's confidence in the company's financial strength and commitment to shareholder returns.

Positive

• Quarterly cash dividend increased from $0.50 to $0.77 per share.
• Dividend return to pre-pandemic levels reflects financial strength.
• Demonstrates commitment to returning capital to shareholders.

Negative

• None.

SOUTHFIELD, Mich., Nov. 18, 2021 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced that its Board of Directors has authorized an increase in the Company's quarterly cash dividend on the Company's common stock from $0.50 to $0.77 per share. The dividend is payable on December 29, 2021, to shareholders of record at the close of business on December 10, 2021.

"We are pleased to announce an increase in our quarterly cash dividend, which returns the dividend to pre-pandemic levels," said Gregory C. Smith, Lear's Non-Executive Chairman. "The dividend increase reflects the Board's confidence in the Company's financial strength and outlook and demonstrates our continued commitment to returning capital to shareholders."

About Lear Corporation

Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Lear's diverse team of talented employees in 38 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 179 on the Fortune 500. Further information about Lear is available at lear.com or on Twitter @LearCorporation.

 

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SOURCE Lear Corporation

FAQ

What is the new dividend amount for Lear Corporation (LEA)?

The new dividend amount for Lear Corporation is $0.77 per share.

When will the dividend be paid to shareholders of Lear Corporation?

The dividend will be paid on December 29, 2021.

What is the record date for the dividend payout of Lear Corporation?

The record date for the dividend payout is December 10, 2021.

Does the dividend increase indicate positive financial health for Lear Corporation?

Yes, the dividend increase reflects the Board's confidence in the company's financial strength and outlook.