- Posted January 13, 2014
- Tweet This | Share on Facebook
Ford board increases quarterly dividend 25%
DEARBORN (AP) -- Ford Motor Co. is raising the quarterly dividend it pays shareholders for the second time since restoring the payout in 2012.
The second-largest U.S. automaker said last Thursday its board declared a first-quarter dividend of 12.5 cents per share, a 25 percent increase from the previous 10-cent payout. The new dividend is payable on March 3 to shareholders of record at the close of business on Jan. 31.
Dearborn-based Ford stopped paying a dividend in 2006, a year in which it lost $12.6 billion. After a restructuring, it returned to profitability in 2009. Ford restored its quarterly dividend at 5 cents per share in the first quarter of 2012 and doubled that dividend a year later.
The announcement comes a few days after CEO Alan Mulally said he planned to stay with the automaker at least through the end of this year. Mulally was rumored to be in the running to become Microsoft Corp.'s next CEO.
The largest U.S. automaker, General Motors Co., hasn't paid a dividend since 2008. But CEO Dan Akerson recently hinted one is coming soon.
Akerson told reporters last month that since GM has retired preferred stock that carried high dividend rates and payments, it now has enough money to maintain capital spending and reward shareholders.
Published: Mon, Jan 13, 2014
headlines Oakland County
headlines National
- Civil legal aid lawyers are often the last line of defense. Why are there so few of them?
- Bankruptcy law firm files for Chapter 11 after losing advertising dispute
- Dentons and Boies Schiller face $300M racketeering suit after client loses international arbitration
- Mother’s Day and the changing face of family dynamics and custody arrangements
- Federal judge reprimanded for handcuffing teen spectator in scared-straight approach
- Lawyer whose firm sued Boeing finds emergency slide that fell from company’s plane near his home