Cooper Tire & Rubber Co. announced a quarterly dividend of 10.5 cents per share on common stock, payable June 27, 2014. The dividend will be payable to stockholders of record at the close of business June 2, 2014.
Cooper says this marks the 169th consecutive quarterly dividend paid by Findley, Ohio-based tire company.
Cooper reported net sales of $796 million for its first quarter of 2014, a decrease of $65 million compared with the same period a year ago. Operating profit for the quarter was $81 million, which is $16 million lower than the first quarter of 2013.
For more information on the company’s first quarter financials, read ‘Armes: Cooper results are 'strong'’
Bob Ulrich was named Modern Tire Dealer editor in August 2000. He joined the magazine in 1985 as assistant editor, and has been responsible for gathering statistical information for MTD's "Facts Issue" since 1993.