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Dana Holding Corp Announces Share Repurchase Program; Company To Pay Dividends On Common, Preferred Stock


Friday, 26 Oct 2012 07:10am EDT 

Dana Holding Corp announced that Board of Directors has approved a share repurchase program for up to $250 million of its currently outstanding shares of common stock. Dana plans to repurchase its shares either in the open market or through privately negotiated transactions over the next two years. Additionally, Dana announced that its Board of Directors has declared a dividend on its common stock. The Board declared a quarterly dividend of $0.05 per share, payable November 30, 2012, to holders of Dana common stock as of November 9, 2012. The Board of Directors also authorized the payment of a dividend to shareholders of 4.0 % Series A Convertible Preferred Stock and 4.0 % Series B Convertible Preferred Stock. A cash payment of $1.00 per share representing a quarterly dividend for the quarter ended Sept. 30, will be payable on Nov. 26, 2012, to preferred shareholders of record as of the close of business on Nov. 2, 2012. 

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