Delphi Board Declares Quarterly Dividend
8 September 1999
Delphi Board Declares Quarterly DividendTROY, Mich., Sept. 8 -- The Delphi Automotive Systems Board of Directors today declared a quarterly dividend of $0.07 per share on Delphi $0.01 par value common stock. The dividend, Delphi's second, is payable October 18, 1999 to shareholders of record as of September 20, 1999. "The dividend reflects continued strong quarterly performance and represents our commitment to provide value to our shareholders," said Delphi Chairman, Chief Executive Officer and President J.T. Battenberg III. Delphi currently has 565 million shares of common stock outstanding. The company sold 100 million shares of common stock in an initial public offering on February 5, 1999. Former Delphi parent General Motors Corp. distributed 452.6 million Delphi shares to GM shareholders on May 28, 1999, in a tax-free spin-off. The remaining 12.4 million shares of outstanding Delphi $0.01 par value common stock were distributed, also on May 28, 1999, by GM to a Voluntary Employee Beneficiary Association (VEBA) trust. Delphi Automotive Systems, headquartered in Troy, Mich., USA, is a world leader in automotive components and systems technology. Delphi's three business sectors -- Dynamics & Propulsion; Safety, Thermal & Electrical Architecture; and Electronics & Mobile Communications -- provide comprehensive product solutions to complex customer needs. Delphi has approximately 201,000 employees and operates 168 wholly owned manufacturing sites, 38 joint ventures, 51 customer centers and sales offices and 27 technical centers in 36 countries. Regional headquarters are located in Paris, Tokyo and Sao Paulo. Delphi can be found on the Internet at http://www.delphiauto.com .