Wellington Management Cuts Stake in BorgWarner; Board Authorizes $1 Billion Buyback
BorgWarner reported its Aug. 5 quarterly earnings, declared a quarterly dividend of $0.17 per share payable Sept. 15, and said its board authorized a $1 billion stock buyback, allowing repurchases up to 7.7% of shares. The dividend payout ratio is 34%. Analysts’ views were mixed, with some upgrades.