AKRON — Goodyear's board of directors has approved an increase in the company's quarterly common stock dividend to 16 cents per share, from 14 cents per share.
The increase represents an annual rate of 58 cents per share for 2018 and 64 cents per share for 2019.
The board made the increase effective with the dividend payable Dec. 3, to shareholders of record on Nov. 1.
Goodyear did not elaborate on its reasons for raising the dividend.
This is the third increase in the dividend payment in the past two years.
Goodyear last increased its quarterly dividend in October 2017, raising it 4 cents to 14 cents a share. Prior to that it was in December 2016, when the dividend was increased 3 cents a share to 10 cents.