Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.