Tweet

Nov 24, 2008 1:07 PM

American Axle & Manufacturing Holdings, Inc. (AAM) today announced a cash dividend of $0.02 per share payable on December 29 to stockholders of record on all of the company's issued and outstanding common stock as of December 8.

This comes on the heels of a third-quarter net loss of $440.9 million or $8.54 per share. This compares to net earnings of $13.5 million, or $0.25 per share, in the third quarter of 2007.

In the third quarter of 2008, AAM recorded special charges and non-recurring operating costs of $398.0 million, or $7.71 per share. The majority of these charges and costs were non-cash in the period.