DETROIT — The board of directors for American Axle & Manufacturing Holdings (AAM) has declared its first ever dividend as a public company. A quarterly cash dividend of $0.15 per share will be payable on June 28 to stockholders of record on all of the company’s issued and outstanding common stock as of June 7.
“The initiation of this dividend program complements AAM’s existing stock repurchase program and underscores our confidence in our ability to generate cash flow in our business and provide a solid financial return to our stockholders,” said AAM Co-Founder, Chairman and CEO Richard Dauch.
American Axle & Manufacturing manufactures driveline systems and related components and modules, chassis systems and forged products for trucks, sport utility vehicles and passenger cars. In addition to 14 locations in the U.S. AAM also has offices and facilities in Brazil, England, Germany, Japan, Mexico and Scotland.
For more information about AAM, go to: www.aam.com.
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