SOUTHFIELD, Mich., Aug. 12, 2021 -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced that its Board of Directors has authorized an increase in the Company's quarterly cash dividend on the Company's common stock from $0.25 to $0.50 per share. The dividend is payable on September 21, 2021, to shareholders of record at the close of business on September 2, 2021.

"We are pleased to announce an increase in our quarterly cash dividend, reflecting our strong financial performance despite challenging industry conditions," said Gregory C. Smith, Lear's Non-Executive Chairman. "The dividend increase is a reflection of the Board's confidence in the Company's financial strength and outlook, as well as our continued commitment to returning capital to shareholders. The Board will consider additional adjustments to the dividend, depending on industry conditions."