TOLEDO, OH — Citing continued confidence in the company’s performance and direction, Dana Corp.’s board of directors has doubled the dividend on the company’s stock, from 6 cents per share to 12 cents per share.

The dividend will be payable on March 15 to shareholders of record on March 1.

“We are pleased that Dana’s improving performance and stronger balance sheet have enabled us to provide our shareholders with another significant dividend increase,” said Dana Chairman Glen Hiner. “Coming on the heels of the increase made in the fourth quarter, this increase brings Dana’s dividend payout more in line with levels typical of the sector, while also reflecting our continued confidence in the company’s direction.”

For more information about Dana, visit the company’s Web site: www.dana.com.

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