STOCKHOLM, Sweden, Aug. 18, 2005 (PRIMEZONE) -- Autoliv Inc. (NYSE:ALV) and (Stockholm:ALIV), the worldwide leader in automotive safety systems, today announced that its quarterly dividend will be increased by 7% to 32 cents per share from 30 cents. Since 2002, the quarterly dividend has been increased five times by more than 170%.
The dividend will be payable on Thursday, December 8, 2005, to Autoliv stockholders of record on the close of business, Thursday November 10, 2005. The Ex-date when the shares will trade without the right to the dividend will be November 8.
In addition, the Company intends to accelerate its currently authorized 10 million share repurchase program and complete the existing mandate. The board will review additional share repurchases when the current authorization is completed. Today, approximately 5.5 million of this mandate remains to be utilized.
The dividend increase and share repurchase program is consistent with Autoliv's strategy to create shareholder value and lower the Company's cost of capital. Since 2000 when the first share repurchase program was adopted, Autoliv has bought back close to 14 million shares for $420 million. These shares have, at current market price, appreciated $200 million.
The dividend increase and the repurchases will not limit Autoliv's possibilities to continue to grow its business organically and make strategic acquisitions. Over the last three years, Autoliv has generated over $900 million in free cash and reduced its net debt to capitalization to 22% from 35%.
Inquiries:
Mats Odman, Vice President Corp. Com., Tel. +46 (8) 58 72 06 23, or +46 (708) 32 09 33
Ray Pekar, Director Investor Relations, Tel. +1 (248) 475-0427
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