Tenneco Automotive Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
May 9, 2000
TENNECO AUTOMOTIVE BOARD ANNOUNCES SECOND QUARTER DIVIDEND; COMPANY ANNOUNCES ANNUAL STOCKHOLDER MEETING RESULTS
LAKE FOREST, Ill.--(BUSINESS WIRE)--May 9, 2000--Tenneco Automotive's board of directors today declared a regular second quarter dividend of 5 cents per share on its common stock. The dividend is payable on June 13, 2000 to stockholders of record at the close of business on May 26, 2000.
Tenneco Automotive also announced that, at its annual meeting today, stockholders re-elected Mark Andrews and David B. Price, Jr. to the company's board of directors.
Mark Andrews is Chairman of Andrews Associates, Inc., a government consulting firm. He served in the U.S. House of Representatives from 1963 to 1980, and in the U.S. Senate from 1980 to 1986. Mr. Andrews has been a director of the company since 1987 and is a member of the Compensation/Nominating/Governance Committee.
David B. Price, Jr. has been an Executive Vice President of BF Goodrich Company and President and Chief Operating Officer of BF Goodrich Performance Materials since July 1997. Prior to joining BF Goodrich, Mr. Price held various executive positions during a 20-year tenure with Monsanto Company. Mr. Price was named a director of the company in November 1999 and is a member of the Three-Year Independent Director Evaluation Committee and the Compensation/Nominating/Governance Committee.
Stockholders also ratified the appointment of Arthur Andersen LLP as the company's independent public accountants for the year ending December 31, 2000, and approved an amendment to the company's certificate of incorporation to reduce the number of authorized shares of common stock to 135 million shares.
Tenneco Automotive is a $3.3 billion manufacturing company headquartered in Lake Forest, Ill., with 24,000 employees worldwide. Tenneco Automotive is one of the world's largest producers and marketers of ride control and exhaust systems and products, which are sold under the Monroe(R) and Walker(R) global brand names. Among its products are Sensa-Trac(R) and Reflex(TM) shocks and struts, Rancho(R) shock absorbers, Walker(R) Quiet-Flow(TM) mufflers and DynoMax(TM) performance exhaust products, and Monroe(R) Clevite(TM) vibration control components.