Goodyear declares dividend on 5.875% stock
Directors of the Goodyear Tire & Rubber Co. declared a quarterly dividend of 73.44 cents per share of mandatory convertible preferred stock. The dividend is payable Oct. 1, 2011, to shareholders of record on Sept. 15.
The payout represents an annual rate of $2.9375 per share. The news follows a recent announcement by Goodyear Chairman, CEO and President Richard Kramer about the company's financial outlook (see Goodyear is on the right track, Kramer says). The company also just had the best quarter in the history of Goodyear (see Goodyear: a record $5.6 billion in quarterly sales).