UPDATE 1-Lear to split shares, start buyback, dividend

Newswire

DETROIT, Feb 17 (Reuters) - Auto parts supplier Lear Corp said on Thursday it would split its stock two-for-one, begin a $400 million share buyback program and start paying a quarterly dividend, steps that show its progress in shoring up its balance sheet after a 2009 bankruptcy. The supplier of auto seating systems and electrical systems said it would pay a quarterly dividend of 25 cents per share on a pre-split basis. Lear, which emerged from bankruptcy in November 2009, has benefited ...

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