PR Newswire | Aug 12, 2021 04:15PM EDT

08/12 15:15 CDT

Lear Raises Quarterly Cash Dividend to $0.50 Per Share SOUTHFIELD, Mich., Aug. 12, 2021

SOUTHFIELD, Mich., Aug. 12, 2021 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced that its Board of Directors has authorized an increase in the Company's quarterly cash dividend on the Company's common stock from $0.25 to $0.50 per share. The dividend is payable on September 21, 2021, to shareholders of record at the close of business on September 2, 2021.

"We are pleased to announce an increase in our quarterly cash dividend, reflecting our strong financial performance despite challenging industry conditions," said Gregory C. Smith, Lear's Non-Executive Chairman. "The dividend increase is a reflection of the Board's confidence in the Company's financial strength and outlook, as well as our continued commitment to returning capital to shareholders. The Board will consider additional adjustments to the dividend, depending on industry conditions."

About Lear Corporation

Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Lear's diverse team of talented employees in 38 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better(tm) by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 179 on the Fortune 500. Further information about Lear is available at lear.com or on Twitter @LearCorporation.

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SOURCE Lear Corporation