MAUMEE, Ohio, Feb. 16, 2018 /PRNewswire/ -- 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."
About Dana Incorporated
Dana is a world leader in highly engineered solutions for improving the efficiency, performance, and sustainability of powered vehicles and machinery. Dana supports the passenger vehicle, commercial truck, and off-highway markets, as well as industrial and stationary equipment applications. Founded in 1904, Dana employs more than 30,000 people in 33 countries on six continents who are committed to delivering long-term value to customers. Based in Maumee, Ohio, USA, the company reported sales of $7.2 billion in 2017. Dana is ranked among the Drucker Institute's listing of the 250 most effectively managed companies. For more information, please visit dana.com.
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SOURCE Dana Incorporated