Ford doubles dividend to 10 cents
ASSOCIATED PRESS January 10, 2013 8:26AM
Updated: January 10, 2013 4:34PM
DEARBORN, Mich. — Ford Motor Co. is doubling its quarterly dividend to 10 cents, just nine months after paying its first dividend in more than five years.
The automaker said Thursday that the payout is part of its goal of delivering profitable growth for all of its stakeholders.
Shares rose 3 percent in premarket trading to $13.47, just shy of their 52-week high.
Ford said its liquidity has increased by $2 billion through the first three quarters of 2012. The first-quarter dividend will be paid on March 1 to shareholders of record as of Jan. 30.
Ford, based in Dearborn, Mich., resumed paying a dividend in March after halting the payments because of financial problems. It has since paid a dividend of 5 cents each quarter.
The company said the last time it paid a 10-cent dividend was in June 2006.