Cooper Tire declares 193rd consecutive quarterly dividend
Despite intense pressures facing the wider tyre industry, on 8 May 2020 Cooper Tire & Rubber Company maintained a long unbroken streak of quarterly dividends, when it declared a dividend of 10.5 cents per share on common stock, payable 26 June 2020 to stockholders of record at the close of business 1 June 2020. This is the 193rd consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
Speaking on a fiscal reporting conference call, Chris Eperjesy, Cooper Tire’s senior veice president and chief financial officer said: “…we continue to support our quarterly dividend. While our Board and management will continue to evaluate the dividend on a quarterly basis during the current situation, we expect our Board to declare a regular quarterly dividend of $0.105 per share this quarter. As Brad [Hughes – Cooper Tire president and chief executive] indicated earlier, we entered the year in a strong balance sheet position. We have taken the necessary steps to ensure this continues, and our financial strength will enable us to emerge from the current crisis in a position to continue to invest in the growth of our business”.