TROY, Mich. (AP) — Delphi Automotive PLC said Tuesday that it will start paying a quarterly cash dividend.
The auto supplier said its board declared a dividend of 17 cents. The dividend will be paid on March 27 to shareholders of record as of March 15.
The dividend marks Delphi's first since the company emerged from bankruptcy protection in 2009 and then went public in 2011.
Rodney O'Neal, Delphi's CEO and president, said the move reflects management's confidence in the company's business and its commitment to boosting value for shareholders.
Delphi shares rose 37 cents to $38.50 in morning trading Tuesday. They are nearing the upper end of their 52-week range of $24.86 to $40.32.