Lear increase share buyback program to $1.5 billion, raises dividend


Lear Corp.

LEA, -1.08%

said Wednesday its board has approved an increase in its share buyback program to $1.5 billion and extended the authorization until Dec. 31, 2020. The car seating and electrical systems maker said it is raising its quarterly dividend by 40% to 70 cents a share from 50 cents. The new dividend will be payable March 26 to shareholders of record as of March 7. Shares were not yet active premarket, but have gained 30% in the last 12 months, while the S&P 500

SPX, +0.26%

has gained 14%.