Dana Corporation Declares 250th Consecutive Dividend
Apr 17, 2000
TOLEDO, Ohio, April 17 /PRNewswire/ -- Dana Corporation (NYSE: DCN) today declared its 250th consecutive dividend, extending a streak that dates back to 1936 without a missed or reduced payment. The dividend of 31 cents per share is payable June 15, 2000, to shareholders of record June 5. (Photo: http://www.newscom.com/cgi-bin/prnh/19990903/DANA ) Dana Chairman and CEO Joe Magliochetti said, "Dana has achieved a continuum of solid growth in both sales and profits over the years. Our regular dividends have allowed our shareholders to participate in this success. In fact, Dana has paid more than $2.3 billion in dividends to its shareholders over the last 25 years. This is the type of consistent performance that is often undervalued in today's market environment." The value of Dana's dividend as one component within the performance of its stock as a long-term investment is further illustrated by the fact that, including stock splits, 100 shares of stock purchased in 1936, when the string of dividend payments began, would have earned more than $480,000 in dividend payments alone. As of the close of trading Friday, Dana's dividend yield was more than 4.3 percent -- nearly four times the average for companies in the S&P 500. Dana Corporation is one of the world's largest independent suppliers to vehicle manufacturers and their related aftermarkets. Founded in 1904 and based in Toledo, Ohio, the company operates approximately 320 major facilities in 32 countries and employs more than 82,000 people. The company reported sales of $13.2 billion in 1999. Dana's Internet address is http://www.dana.com .
SOURCE Dana Corporation
Web Site: http://www.dana.com
Photo Notes: http://www.newscom.com/cgi-bin/prnh/19990903/DANA
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