Meritor Declares Quarterly Dividend on Common Stock
12 November 1997
Meritor Declares Quarterly Dividend on Common StockTROY, Mich., Nov. 12 -- Meritor Automotive, Inc.'s board of directors today declared a quarterly dividend of 10.5 cents per share on its common stock, payable Dec. 15, 1997, to shareowners of record on Nov. 24, 1997. This is the first dividend declared by Meritor since the distribution on September 30, 1997 to Rockwell International Corporation shareowners of one share of Meritor common stock for every three shares of Rockwell common stock outstanding. Meritor, with 1997 sales of more than $3.3 billion, is a global supplier of a broad range of components and systems for commercial, specialty and light vehicles. Meritor consists of two businesses: Heavy Vehicle Systems, a leading supplier of drivetrain systems and components for medium- and heavy- duty trucks, trailers and off-highway equipment and specialty vehicles including military, bus and coach, and fire and rescue; and Light Vehicle Systems, a major supplier of roof, door, access control and seat adjusting systems, electric motors and electronic controls, suspension systems and wheels for passenger cars, light trucks and sport utility vehicles. SOURCE Meritor Automotive, Inc.