Dana Incorporated (NYSE: DAN) announced today that its board of directors has raised the dividend on its common stock.
The board declared a quarterly dividend of $0.10 per share, payable March 23, 2018, to holders of Dana common stock as of March 2. The new dividend rate represents a 67 percent increase above the prior quarterly dividend.
“The execution of our enterprise strategy is driving our strong financial performance and outlook, providing increased confidence in our cash flows,” said Jonathan Collins, executive vice president and chief financial officer of Dana. “As a result, we are pleased to announce a 67 percent increase in our quarterly dividend, creating even greater value for our shareholders.”