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Goodyear to pay first dividend since 2002

Goodyear makes the official tire of NASCAR.

Tom Pennington/Getty Images

Goodyear makes the official tire of NASCAR.

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Goodyear Tire & Rubber Co. is reinstating its quarterly dividend after more than a decade. It is also starting a buyback of up to $100 million. The company, which says it is the number one tire maker in North America, last paid a dividend on its common stock in December 2002. It declared a dividend of 5 cents per share to be paid on Dec. 1 to shareholders of record on Nov. 1. Future dividends will be subject to board approval. Goodyear makes its products in 52 facilities in 22 countries.

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