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Lear increases quarterly dividend, extends share buyback program

Lear Corp. said Feb. 14 that its board raised the quarterly cash dividend on its common stock while also approving an extension and increase to its share repurchase program.

The Michigan-based automotive seating supplier's quarterly dividend is rising to 70 cents per share, up 40% from the previous 50 cents per share. It will be payable March 26 to shareholders of common stock on record as of the close of business March 7.

The repurchase program has been extended to Dec. 31, 2020, with the buyback authorization now set at $1.5 billion. It previously had $546 million remaining on the authorization as of 2017-end.