Lear Raises Dividend, Increases Stock Repurchases

Lear Corp. said on Tuesday it raised its quarterly dividend by 25% and increased its stock repurchase program by $1 billion. The maker of automotive seating and electrical distribution systems said the new dividend of 25 cents a share will be paid out on March 23 to shareholders of record on March 4. The company said the authorization for the increased share buyback program was extended to the end of 2017. The stock, which was still inactive in premarket trade, has climbed 16% over the past three months, while the S&P 500 has gained 2.7%.