Cooper Tire declares increased quarterly dividend.FINDLAY, Ohio--(BUSINESS WIRE)--Nov. 8, 1996--The board of directors of Cooper Tire & Rubber Company has declared an increased dividend of 8.5 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. payable December 23, 1996 to holders of shares outstanding on the record date of November 29, 1996. The declared dividend declared dividend A dividend authorized by a firm's board of directors. At the time a dividend is declared, the firm creates a liability for the dividend's payment. represents an increase of 13.3 percent over the previous quarterly dividend of 7.5 cents which was paid in each of the prior five quarters. In announcing the increased dividend, Patrick W. Rooney, chairman of the board, stated, "The company is completing a record year of expansion and improvements for future productivity and efficiency. Our markets are firm and demand for tires and engineered products remains strong. The board believes the increase in the dividend is warranted by the favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. prospects of the company and its fundamental financial strength." The new dividend rate amounts to 34 cents per share on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis. Yearly dividend payments have increased each year since 1979, and the company has paid dividends to its stockholders every year since 1950. CONTACT: Cooper Tire & Rubber Company, Findlay Stan STAN Stanchion STAN Stärke- und Ausrüstungsnachweis (German) Stan Standard Man (human patient simulator) STAN SEMCIP Technical Assistance Network STAN System Trace Audit Number STAN Star Trek Area Network C. Kaiman, 419/424-4233 |
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