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Visteon Shareholders to Get Nearly $1.8 Billion Cash Distribution
Visteon Corp. will make a special cash distribution of $1.75 billion to its shareholders in January.
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Visteon Corp. will make a special cash distribution of $1.75 billion to its shareholders in January. The suburban Detroit-based supplier of vehicle electronics also plans to buy back as much as $500 million in stock by the end of 2016.
Both plans are part of Visteon’s aim to return as much as $2.75 billion to its shareholders. The payments of $43.40 per share will be funded by the $3.6 billion sale in June of Visteon’s 70% stake in the former Halla Visteon Climate Control Corp.
Visteon CEO Sachin Lawande says the company will emerge from the payout well capitalized and positioned to grow organically and through acquisitions.
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