Goodyear declares dividend on 5.875% preferred stock

Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of 73.44 cents per share of mandatory convertible preferred stock. The dividend is payable October 1, 2011, to shareholders of record on September 15, 2011. The payout represents an annual rate of US$2.9375 per share.

Last week the tyre maker announced its net income for the second quarter of 2011 was $40 million, up 42.9 per cent year-on-year. Sales during the quarter amounted to $5.6 billion, up 24 per cent year-on-year and a record quarterly result.