Superior Declares 10% Stock Dividend

Superior Industries International announced a 10% stock dividend, and it effectively raised the cash dividend on its stock by 10%.

Superior, a Van Nuys producer of wheels and other automotive parts, said the stock dividend would be paid June 29 to stockholders of record June 15. They will receive one new share for every 10 shares now held.

The company will continue paying its quarterly cash dividend of 7 cents a share, which is effectively a 10% increase when combined with the stock dividend. The cash payout will be made July 27 to holders of record July 6.

Superior now has 7.8 million common shares outstanding.