Lear Corporation (NYSE:LEA) to Issue $0.77 Quarterly Dividend

Lear Corporation (NYSE:LEAGet Free Report) announced a quarterly dividend on Thursday, May 14th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of 0.77 per share by the auto parts company on Tuesday, June 23rd. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd.

Lear has increased its dividend by an average of 0.2%annually over the last three years. Lear has a dividend payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lear to earn $16.90 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 18.2%.

Lear Trading Up 1.1%

Shares of NYSE LEA opened at $139.09 on Friday. The stock’s 50 day moving average price is $123.77 and its two-hundred day moving average price is $120.06. Lear has a 52-week low of $86.14 and a 52-week high of $142.84. The stock has a market capitalization of $6.97 billion, a P/E ratio of 13.91, a PEG ratio of 0.70 and a beta of 1.21. The company has a quick ratio of 1.05, a current ratio of 1.33 and a debt-to-equity ratio of 0.51.

Lear (NYSE:LEAGet Free Report) last announced its quarterly earnings data on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the firm posted $3.12 earnings per share. Lear’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Lear will post 14.56 earnings per share for the current fiscal year.

About Lear

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Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.

Further Reading

Dividend History for Lear (NYSE:LEA)

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