Last year was a big step for Goodyear Tire & Rubber Co. on its path to long-term growth, with record-setting earnings achieved. Goodyear Chairman and CEO Richard Kramer discussed that success during its annual shareholders meeting on April 13.
The tiremaker’s results have helped fuel the company’s capital allocation plan, which balances investing in the business, paying down debt and returning cash to shareholders, Kramer said. In 2014, Goodyear increased its common stock dividend by 20% and delivered almost $300 million to shareholders through dividends and stock repurchases.
“I am extremely pleased with what our teams accomplished over the past year through their disciplined execution of our strategy,” Kramer said. “Our strategy is built to create sustainable value in the marketplace – where tires are bought and sold and where our brand can be differentiated from the competition.”
“Our industry is thriving, and I’m confident that Goodyear will thrive as well, creating value for customers, consumers and shareholders for the long term.”
In addition to Kramer’s speech, shareholders re-elected 13 members of the company’s board to on year terms during the meeting.
Shareholders also approved amendments to Goodyear’s Articles of Incorporation and Code of Regulations and ratify the appointment of Pricewaterhouse Coopers LLP as the company’s independent registered public accounting firm for 2015.
A shareholder proposal regarding simple majority voting was not approved.
More investor information can be found online at investor.goodyear.com.
