AKRON, Ohio, March 7, 2014 /PRNewswire/ -- Directors of The Goodyear Tire & Rubber Company (NASDAQ: GT) have declared the final quarterly dividend on the company's 5.875% mandatory convertible preferred stock. The preferred stock is subject to mandatory conversion into shares of Goodyear common stock on April 1, 2014.
A dividend of 73.44 cents per share is payable in cash on April 1, 2014, to shareholders who present the preferred stock for mandatory conversion on that date. The payout represents an annual rate of $2.9375 per share.
Goodyear is one of the world's largest tire companies. It employs approximately 69,000 people and manufactures its products in 52 facilities in 22 countries around the world. Its two Innovation Centers in Akron, Ohio and Colmar-Berg, Luxembourg strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate. GT-FN