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Lear Corp. Authorizes Increase In Share Buyback; Lifts Dividend By 40%

Lear Corp. (LEA) announced that its Board has authorized an increase in the company's share repurchase authorization to $1.5 billion and extended the authorization period until December 31, 2020. At the end of 2017, Lear had $546 million remaining on its share repurchase authorization.

Since the company began its share repurchase and dividend programs in 2011, Lear has returned approximately $4 billion to shareholders, including the repurchase of 42% of the company's shares outstanding at the commencement of its share repurchase program.

The Board raised the quarterly cash dividend on the company's common stock by 40% to $0.70 per share from $0.50 per share. The next dividend is payable on March 26, 2018 to shareholders of record at the close of business on March 7, 2018.

by RTT Staff Writer

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