Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Dana Incorporated is a global supplier of engineered driveline, sealing, and thermal-management technologies, serving manufacturers of vehicles and industrial equipment. The company operates primarily within the automotive, commercial vehicle, and off-highway industries, providing components and systems that support vehicle propulsion, power transmission, and efficiency. Its revenue is largely driven by original equipment manufacturers (OEMs), with a smaller but meaningful contribution from aftermarket sales.
The company traces its origins to 1904, when it was founded as the Parish Manufacturing Company and later renamed Dana Corporation after founder Clarence W. Dana. Over more than a century, Dana evolved from a diversified industrial manufacturer into a focused global supplier of drivetrain and mobility technologies. The company rebranded as Dana Incorporated following its emergence from restructuring in 2008 and has since emphasized advanced propulsion, electrification, and lightweight technologies as part of its long-term strategy.
Business Operations
Dana generates revenue through four primary operating segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies. These segments design and manufacture axles, driveshafts, gearboxes, sealing products, thermal-management systems, and electrodynamic solutions used in passenger vehicles, trucks, buses, construction equipment, agricultural machinery, and industrial applications.
The company operates manufacturing, engineering, and distribution facilities across multiple continents, supporting both domestic and international customers. Dana controls proprietary drivetrain and electrification technologies, including e-axles, electric motors, inverters, and hybrid drive systems. Its operations include wholly owned subsidiaries and long-standing relationships with major global OEMs, and it maintains an active aftermarket business supplying replacement parts under the Dana, Spicer, and Victor Reinz brands.
Strategic Position & Investments
Dana’s strategic direction centers on supporting the transition toward electrified, hybrid, and more efficient mobility solutions while maintaining leadership in traditional driveline systems. Growth initiatives focus on expanding electrified propulsion offerings, increasing content per vehicle, and strengthening positions in commercial and off-highway markets, which tend to have longer product cycles and higher technical barriers.
The company has made targeted acquisitions and investments to enhance its electrification and thermal-management capabilities, including the acquisition of Nordresa, a provider of electric motor technologies, and TM4, a supplier of high-speed electric motors and power electronics. Dana also continues to invest heavily in research and development, particularly in e-axles, battery cooling, and integrated powertrain systems designed to support global emissions and efficiency regulations.
Geographic Footprint
Dana is headquartered in Maumee, Ohio, United States, and maintains a significant global presence with operations across North America, Europe, Asia-Pacific, and South America. The company serves customers in more than 30 countries and operates dozens of manufacturing and technical centers worldwide to support localized production and engineering requirements.
Its geographic diversification allows Dana to align closely with major global OEMs and regional vehicle manufacturers, particularly in China, India, and Brazil, where demand for commercial vehicles and off-highway equipment remains strong. International operations account for a substantial portion of revenue, reflecting the company’s global supply chain and customer base.
Leadership & Governance
Dana is led by an executive team with extensive experience in automotive and industrial manufacturing, emphasizing operational discipline, technology leadership, and long-term value creation. The company’s leadership philosophy focuses on innovation, customer collaboration, and disciplined capital allocation, as outlined in its public filings and investor communications.
Key executives include:
- R. Bruce McDonald – Chairman and Chief Executive Officer
- Jonathan E. Collins – President
- Benjamin J. Dolan – Senior Vice President and Chief Financial Officer
- Craig D. Price – Senior Vice President and Chief Technology Officer
- Mark E. Wallace – Senior Vice President and Chief Human Resources Officer
The Board of Directors oversees corporate governance, risk management, and strategic direction, with policies and practices aligned with U.S. public company standards and disclosed in the company’s SEC filings, including its Form 10-K and proxy statements.