- Allocating an additional $300 million to growth capital expenditures to enable the company to build a new plant to serve its North American and Latin American consumer tire businesses and capitalize on the anticipated growth in high-value-added tire markets in the two regions.
- Increasing the quarterly cash dividend on Goodyear's common stock by 20 percent to 6 cents per share from 5 cents per share beginning in September. The payout represents an annual rate of 22 cents per share for 2014 and 24 cents per share for 2015.
- Increasing the share repurchase program by $350 million to allow Goodyear to acquire up to $450 million of its stock through 2016.
- Based on company performance, the shareholder return program can be increased up to an additional $250 million, to a total of $900 million.
- Allocating an additional $400 million towards debt reduction, further strengthening Goodyear's leverage metrics and advancing the company's objective of achieving an investment grade credit rating.
Goodyear Updates 2014-2016 Capital Allocation Plan, Announces Plan To Build New Consumer Tire Plant In The Americas
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