Directors of Goodyear Tire & Rubber Co. have declared a quarterly dividend of 6 cents per share of common stock. The dividend is payable June 1, 2015, to shareholders of record on May 1, 2015.
The payout represents an annual rate of 24 cents per share and is Goodyear's 14th consecutive quarterly dividend.
In 2014 Goodyear posted an adjusted net income of $725 million, up from $600 million in 2013.
During the company's annual shareholder meeting April 13, 2015, Chairman and CEO Richard Kramer said Goodyear's record-setting earnings in 2014 were a big step on the company's long-term path to growth.
"I am extremely pleased with what our teams accomplished over the past year through their disciplined execution of our strategy.
"Our strategy is built to create sustainable value in the marketplace -- where tires are bought and sold and where our brand can be differentiated from the competition."
Kramer said the 2014 results have helped the company's capital allocation plan, which balances investing in the business, paying down debt and returning cash to shareholders. The company said it increased its common stock dividend by 20% and delivered almost $300 million to shareholders through dividends and stock repurchases.
"We're confident in our strategy, and we are building for long-term growth," Kramer said.
To review Goodyear's 2014 financial results, read Goodyear posts adjusted income of $725 million.
For more information about Goodyear and its products, go to www.goodyear.com/corporate.
