Dana Holding (DAN) Declares $0.05 Quarterly Dividend; Approves $400M Buyback

Dana Holding (NYSE: DAN) declared a quarterly dividend of $0.05 per share, or $0.2 annualized.

The dividend will be payable on September 12, 2014, to stockholders of record on August 22, 2014, with an ex-dividend date of August 20, 2014.

The annual yield on the dividend is 0.9 percent.

The company also announced that its board of directors has authorized a $400 million increase in its common share repurchase program. The $400 million increase in the share repurchase program brings the total to $1.4 billion since Dana's share repurchase program was initially announced in October 2012. As of June 30, 2014, Dana has returned $942 million to shareholders since the inception of the program.

Dana plans to repurchase its shares either in the open market or through privately negotiated transactions through the end of 2015. The stock repurchase is subject to prevailing market conditions and other considerations. The company expects to have sufficient liquidity to support this initiative.

For a dividend history and other dividend-related data on Dana Holding (DAN) click here.

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