Directors of Goodyear Tire & Rubber Co. have declared a quarterly dividend of 10 cents per share of common stock. The dividend is payable March 1, 2017, to shareholders of record on Feb. 1, 2017.

The payout represents an annual rate of 40 cents per share. The payout is Goodyear’s 21st consecutive quarterly dividend.

Goodyear posted net income of $317 million on net sales of $3.8 billion for its third quarter ended Sept. 30, 2016. That compares to income of $271 million on net sales of nearly $4.2 billion for the same period the previous year. The company attributed the decline in sales to the deconsolidation of its subsidiary in Venezuela.

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