Delphi Automotive Hikes Dividend; To Repurchase Up To $1 Bln Of Shares

(RTTNews) - Delphi Automotive Plc. (DLPH) announced Tuesday that its board has approved an increase in the annual dividend rate paid on its ordinary shares to $1 per ordinary share, and declared a quarterly cash dividend of $0.25 per ordinary share, payable on February 27, 2014, to shareholders of record at the close of business on February 18, 2014.

In addition, Delphi's Board has authorized a new share repurchase program of up to $1 billion of its outstanding ordinary shares. The company said the program will commence following the completion of the company's previous share repurchase programs. Repurchases may be made in the open market or in privately negotiated transactions.