Dana Inc Stock Price, News & Analysis

Dana Incorporated (NYSE: DAN) will participate in the virtual Oppenheimer 16th Annual Industrial Growth Conference on May 4, 2021, at 1:30 p.m. EDT, featuring Executive Vice President and CFO Jonathan Collins. The company will also join the 2021 Virtual Wells Fargo Industrials Conference on May 6, 2021, from 3:20 p.m. to 3:50 p.m. EDT. Webcast access details will be available on Dana's Investor website. Dana, based in Maumee, Ohio, reported $7.1 billion in sales for 2020 and is recognized for its sustainability efforts and high-performance workplace culture.

Dana Incorporated (NYSE: DAN) has priced its offering of $400 million in 4.250% Senior Notes due 2030. The company plans to use the net proceeds for financing eligible green projects as outlined in its Green Financing Framework. Citigroup, Barclays, BMO, and others are acting as joint-bookrunning managers for the offering. The news release includes forward-looking statements regarding the use of proceeds, acknowledging risks and uncertainties linked to these projections. Dana reported $7.1 billion in sales for 2020, emphasizing its commitment to sustainability.

On April 29, 2021, Dana Incorporated (NYSE: DAN) announced a registered offering of $400 million in senior unsecured notes due 2030. The net proceeds will support eligible green projects under Dana's Green Financing Framework. The offering is managed by prominent financial institutions, including Citigroup and Barclays. This move aligns with Dana's commitment to sustainability, which has been recognized in its corporate ethos. Dana reported $7.1 billion in sales for 2020 and was named one of America's Most Responsible Companies for 2021.

Dana announced a cash tender offer to buy back $425 million of its 5.500% Senior Notes due 2024. This offer includes a consent solicitation for proposed amendments to eliminate restrictive covenants and reduce notice periods for redemptions. Holders tendering their Notes can receive up to $1,020 per $1,000 of Notes, depending on timing. The offer expires on May 26, 2021, with early tender eligibility by May 12. Acceptance of valid offers depends on securing at least $400 million in new debt securities. A concurrent redemption of all outstanding Notes is set for May 29, 2021, subject to conditions.

Dana reported first-quarter 2021 sales of $2.3 billion, up $337 million from last year, driven by strong demand in the light-truck, commercial-vehicle, and off-highway markets. Net income attributable to Dana rose to $71 million, with diluted EPS of $0.48. Adjusted EBITDA increased to $234 million, reflecting a 10.3% margin. Operating cash flow improved to $27 million. The company has revised its full-year sales guidance to $8.50 to $9.00 billion and adjusted EBITDA guidance to $920 million to $1.0 billion.

Dana Incorporated (NYSE: DAN) has declared a quarterly dividend of $0.10 per share, set to be paid on May 28, 2021, to shareholders as of May 7. This announcement highlights the company's commitment to returning value to its investors amidst its operations in the design and manufacture of propulsion and energy-management solutions.

In 2020, Dana reported sales of $7.1 billion and has been recognized for its sustainability efforts, being named one of 'America's Most Responsible Companies 2021' by Newsweek.