BorgWarner Increases Quarterly Dividend
AUBURN HILLS, Mich., Nov. 12 -- BorgWarner Inc. (NYSE: BWA), a leading provider of highly engineered engine and drivetrain components and systems to vehicle makers worldwide, announced today that the company's board of directors has approved a 9% increase in the quarterly cash dividend to $0.12 per share on all of the company's issued and outstanding common stock. The dividend is payable on February 16, 2009 to shareholders of record on February 2, 2009.
"While the economic crisis has created a very difficult environment for our industry, our strong financial position and confidence in future growth set us apart and enables us to increase returns to our shareholders," said Timothy M. Manganello, chairman and chief executive officer. "This is the seventh consecutive year of dividend increases and over that period the dividend has more than tripled."
Auburn Hills, Michigan-based BorgWarner Inc. (NYSE: BWA) is a product leader in highly engineered components and systems for vehicle powertrain applications worldwide. The FORTUNE 500 company operates manufacturing and technical facilities in 64 locations in 17 countries. Customers include VW/Audi, Ford, Toyota, Renault/Nissan, General Motors, Hyundai/Kia, Daimler, Chrysler, Fiat, BMW, Honda, John Deere, PSA, and MAN. The Internet address for BorgWarner is: www.borgwarner.com .
SOURCE BorgWarner Inc.
CONTACT:
Mary Brevard of BorgWarner Inc.,
+1-248-754-0881
Web site: www.borgwarner.com
