Superior Industries Boosts Cash Dividend 12.5%

(RTTNews) - Superior Industries International, Inc. (SUP) said Monday that its board of directors has approved a 12.5% increase in the company's quarterly cash dividend rate to $0.18 per share from $0.16 per share, or on an annualized basis, to $0.72 per share from $0.64 per share.

The increase to the quarterly amount, equal to $0.02 per share, will be paid on October 18 to shareholders of record as of September 27.

The previous quarterly dividend of $0.16 per share already was distributed by Superior as part of an accelerated 2013 cash dividend payment that totaled $0.64 per share. The accelerated 2013 dividend was paid on December 28 to shareholders of record as of December 21. The 2013 dividend was accelerated due to uncertainties existing at the time regarding possible dividend tax rate changes.

The company expects to declare the full $0.18 per share quarterly dividend sometime during the fourth quarter of 2013. The fourth quarter dividend typically is paid during January of the following year.