UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): February 1, 2017 (February 1, 2017)
TENNECO INC.
(Exact Name of Registrant as Specified in Charter)
| | | | |
| Delaware | | 1-12387 | | 76-0515284 |
(State or Other Jurisdiction of Incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| |
| 500 NORTH FIELD DRIVE, LAKE FOREST, ILLINOIS | | 60045 |
| (Address of Principal Executive Offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (847) 482-5000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
On February 1, 2017, Tenneco Inc. (the “Company”) announced that its board of directors has approved a dividend program under which the company intends to pay a regular quarterly cash dividend to holders of its common stock. Tenneco intends to pay a quarterly dividend of $0.25 per share on its common stock, representing a planned annual dividend of $1.00 per share. The initial dividend will be payable on March 23, 2017 to shareholders of record as of March 7, 2017. Future dividends will be subject to Board approval.
In addition, the board of directors authorized the repurchase of up to $400 million of the company’s outstanding common stock over the next three years. This includes the remaining amount authorized under earlier repurchase programs. The Company anticipates acquiring the shares through open market or privately negotiated transactions, which will be funded through cash from operations. The repurchase program does not obligate the Company to make repurchases within any specific time or situations, and opportunities in higher priority areas could affect the cadence of this program.
A copy of the company’s press release, dated February 1, 2017, is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
| | |
Exhibit No. | | Description |
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| 99.1 | | Press release issued February 1, 2017 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | | | TENNECO INC. |
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| Date: February 1, 2017 | | | | By: | | /s/ James D. Harrington |
| | | | | | James D. Harrington |
| | | | | | Senior Vice President, General Counsel and Corporate Secretary |
