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Chrysler split its stock and raised its dividend.

March 06, 1987

The No. 3 U.S. auto maker, which made a strong recovery from its brush with bankruptcy, declared a three-for-two split and raised its per-share cash dividend to $1.50 a year from the current $1.40 in what Chairman Lee A. Iacocca called a demonstration of optimism about the company's future. The actions had been rumored on Wall Street after Chrysler posted a 1986 profit of $1.4 billion. The split will be payable April 13 to shareholders of record March 23.

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