BorgWarner increases quarterly dividend 55%, share repurchase program by $1B

The company announced several actions that are intended to drive long-term shareholder value as part of the company’s balanced capital allocation approach. These actions include: the company purchased approximately $108M of its outstanding shares during the second quarter. BorgWarner’s (BWA) board of directors authorized an increase to its share repurchase program to $1B, allowing management to repurchase BorgWarner outstanding shares through 2028. The company’s board of directors approved a 55% increase to its quarterly cash dividend per share.