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Cooper dividend has become automatic

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Cooper Tire & Rubber Co. announced a first-quarter dividend of 10.5 cents per share on common stock. The dividend is payable June 30, 2011, to stockholders of record at the close of business June 2, 2011.

The company has declared a dividend for 157 consecutive quarters.

Cooper Tire's share price on the New York Stock Exchange on March 31, 2011 -- the end of its fiscal first quarter -- was at $25.75. That compares to $19.02 per share one year earlier.

The company posted net income of $16 million on net sales of $906 million for 1Q 2011. For more information on its latest results, click here.

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