The Board of Directors of Autoliv has declared a quarterly dividend of 43 cents per share for the second quarter 2011, an increase of 8% from the previous quarter. This is the third quarter in a row that Autoliv has increased its dividend.
The dividend declared will be payable on Thursday, June 2, 2011 to Autoliv shareholders of record on the close of business on Thursday May 5, 2011. The ex-date when the shares will trade without the right to the dividend will be Tuesday May 3, 2011.
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The additional increase from 40 cent to 43 cents raises the dividend per share above the highest dividend of 41 cents per share that Autoliv declared before the financial crisis. The total dividend paid of $38 million is 30% more than the highest amount paid before the crisis, primarily due to a 24% increase in the number of shares outstanding.
Thanks to Autoliv’s solid balance sheet and recovery from the financial crisis, the company could resume dividend payments to shareholders already in the third quarter 2010 – paying 30 cents per share – and then declaring a 17% dividend increase to 35 cents in the fourth quarter 2010 and a further increase of 14% to 40 cents that will be paid on March 3. And now an 8% increase to 43 cents per share to be paid in June.
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