Dana Increases Share Buyback to $1B

Dana Holding Corporation DAN today announced that its Board of Directors has approved an expanded common share repurchase program of up to $1 billion.  This represents an increase of approximately $900 million over the more than $100 million already returned to shareholders under the company's previous repurchase authorization.   Dana plans to repurchase its shares either in the open market or through privately negotiated transactions over the next two years.  The stock repurchase is subject to prevailing market conditions and other considerations.  The company expects to have sufficient liquidity to support this initiative. "This expanded program reflects confidence in the long-term prospects of our business and our commitment to delivering value to all of our shareholders," said Roger J. Wood, Dana president and chief executive officer.  "We continue to review our capital structure with the goal of best utilizing our strong balance sheet to maximize shareholder value." See full press release