Lear increases share repurchase authorization to $1.5B

Lear has approved an increase to the company’s share repurchase authorization to $1.5B and extended the authorization period until December 31, 2026. In addition, the Board declared a quarterly cash dividend of 77c per share on the company’s common stock payable on March 27 to shareholders of record at the close of business on March 8. At the end of 2023, Lear had $916M remaining on its share repurchase authorization. Lear’s total share repurchase authorization is now $1.5B and reflects approximately 19% of its total market capitalization at current market prices.