Cooper Tire & Rubber Company has announced it will once again issue a quarterly dividend. This time the US-based tyre manufacturer is offering 10.5 cents per share on common stock, payable 30 December 2011, to stockholders of record at the close of business 2 December 2011. This will mark the 159th consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
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.
Michelin reports that almost 60 per cent of its 2010 dividend will be reinvested in new shares. At the company’s Annual Meeting on May 13, shareholders approved the payment of a 2010 dividend of 1.78 euros per share, with a reinvestment option; between May 20 and June 7, more than 78 per cent of the company’s shareholders chose to exercise this option. The dividend reinvestment plan will result in the creation of 3.1 million new shares (representing 1.7 per cent of total capital), which will be delivered on June 20, 2011 and start trading on the NYSE Euronext Paris stock exchange the same day.
Directors of The Goodyear Tire & Rubber Company today declared a quarterly dividend of 74.25 cents per share of mandatory convertible preferred stock. The dividend is payable 1 July, 2011, to shareholders of record on June 15, 2011. The payout represents an annual rate of $2.9375 per share.
On March 28, Goodyear Tire & Rubber announced a public offering of 8.7 million shares of its mandatory convertible preferred stock, with a price of US$50 a share. In addition, the underwriters have an option to purchase up to an additional 1.3 million shares of mandatory convertible preferred stock. The offering is expected to close on March 31, 2011, subject to customary closing conditions.
Cooper Tire & Rubber Company today announced a quarterly dividend of 10.5 cents per share on common stock, payable 30 December, 2010, to stockholders of record at the close of business 2 December, 2010. This will mark the 155th consecutive quarterly dividend paid by the company.
A desire to accelerate corporate growth has prompted Michelin to launch a 1.2 billion euro capital increase aimed at existing shareholders. Through this capital increase the French tyre maker also aims to enhance its credit rating, access to financing and financial flexibility.
Cooper Tire & Rubber Company has announced a quarterly dividend of 10.5 cents per share on common stock, payable 30 September, 2010, to stockholders of record at the close of business 2 September, 2010. This will mark the 154th consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
Titan International, Inc. has approved a quarterly cash dividend of $.005 (one half cent) per common share for the second quarter of 2010. The cash dividend is payable 15 July 2010, to stockholders of record on 30 June 2010.
As it has for fast-approaching 40 years, the Cooper Tire & Rubber Company announced a quarterly dividend payable June 30, 2010, to stockholders of record at the close of business June 2, 2010. The payout will be 10.5 cents per share on common stock. The payout will mark the 153rd consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
During an ordinary session meeting held on April 21, Pirelli & C. SpA shareholders approved the company’s 2009 financial statements and agreed to the distribution of a dividend of 0.0145 euros per ordinary share and 0.0406 euros per savings share. The payment date will be 27 May 2010.
Titan International’s Board of Directors has approved a quarterly cash dividend of US$0.05 per common share for the first quarter of 2010. The cash dividend is payable April 15, 2010, to stockholders of record on March 31, 2010.
Cooper Tire & Rubber has announced a quarterly dividend of 10.5 cents per share on common stock, payable March 31, 2010, to stockholders of record at the close of business March 2, 2010. This will mark the 152nd consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
PAI, the French private equity fund has owned Kwik-Fit since 2005, is reportedly planning to inject £20 million (22 million euros; $33 million) into the UK’s leading tyre retailer to avoid a banking covenant breach, according to a report in the Financial Times. Kwik-Fit, which was last sold to PAI for around £800 million after seeing off fellow bidder Bridgestone, has reportedly seen a slight slowdown in sales growth in the recession and been hit by foreign exchange rates. Nevertheless the Edinburgh-based business is still expected to generate turnover of more than £900 million this year, that’s a 7 per cent growth in like-for-like sales. EBITDA is expected to drop 3 per cent to £96.3 million.
1 in 5 companies in the UK Tyre Manufacturers & Distributors industry are now making a loss making according to analysts at Plimsoll Publishing. The report’s author, David Pattison, commented: “Increasingly we are seeing companies making a loss for the first time in their history and I think they can rightly claim they are victims of difficult trading conditions.”
However, 30 companies are reportedly making a loss for the second and even third year running. According to Plimsoll, “these companies are either blatantly undercutting the rest of the market to enhance or maintain market share or, more likely, have delayed making…painful decision[s]…No one wants to trim costs, lay off staff, cancel dividend payments and the like but continuing on regardless is fast becoming unviable.”
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