Benzinga | Nov 18, 2021 02:34PM EST

Lear Hikes Dividend By 54%

* Lear Corp ((NYSE: LEA) Board has authorized a 54% increase in its quarterly cash dividend from $0.50 to $0.77 per share.

* The raised dividend is payable on December 29, 2021, to shareholders of record on December 10, 2021.

* "We are pleased to announce an increase in our quarterly cash dividend, which returns the dividend to pre-pandemic levels," said Gregory C. Smith, Lear's Non-Executive Chairman.

* The company held $1.1 billion in cash and equivalents as of September 30, 2021.

* Price Action: LEA shares are trading higher by 0.15% at $181.25 on the last check Thursday.