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Superior Industries Announces Cash Dividend

12 May 2000

Superior Industries Increases Cash Dividend for 17th Consecutive Year; Quarterly Pay-Out Raised 11.1% to $0.10 Per Share

    VAN NUYS, Calif.--May 12, 2000--Superior Industries International Inc. announced at today's annual meeting of shareholders that the Board of Directors has approved an 11.1% increase in the Company's quarterly cash dividend to $0.10 per share, commencing with the next quarterly dividend payable on July 14, 2000 to shareholders of record on June 30, 2000.
    Superior has now increased its cash dividend every year for 17 consecutive years.
    "In February we announced record revenue and net income for 1999. In March our Board of Directors authorized the repurchase of up to an additional 4 million shares of Superior common stock. In April we announced new first quarter records for sales, net income and unit aluminum wheel shipments. Today's dividend increase is another way that we are making the fruits of our success available to our shareholders.
    "We expect 2000 to be another record year for Superior as we work to build value for shareholders. This new, higher dividend signals our confidence in Superior's continued growth and strong financial performance. Our aluminum road wheel business is prospering as never before, and we are optimistic that our expansion into the market for aluminum suspension and related automotive components will contribute to our growth in the future," a spokesman said.