Shares of Goodyear Tire Climb Higher on Increased Dividend
Shares of Goodyear Tire & Rubber were higher Thursday as the tire maker said it would return up to $4 billion to shareholders.
Shares of Goodyear Tire & Rubber (GT) - Get Report were higher Thursday as the tire maker said it would return up to $4 billion to shareholders. The company increased its quarterly dividend to $0.10 a share, up from $0.07 a share. The move comes as Goodyear faces activist investor Marcato Capital Management, according to the Wall Street Journal. Marcato has pushed the company to return $4.5 billion to investors over the next three years in a bid to boost Goodyear's stock price, the Journal reported.
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