Today, we announced that the Board of Directors has reinstated a quarterly stock dividend of 5 cents per share. The dividend will be paid March 1, 2012, to shareholders of record on Jan. 31, 2012. Below is the news release we issued to representatives of the news media.
Congratulations to everyone. Reinstating the dividend is another important milestone in our transformation and is consistent with our long-term capital strategy. Now that we have been able to protect the investments needed for future products, invest in growth around the world, and make significant improvements in our balance sheet, we can afford to resume the dividend and provide a return to our shareholders who have invested in Ford.
We could not have made any of these steps without everyone’s efforts to improve the profitability of our operations around the world.
Executive Vice President and Chief Financial Officer
Ford Board of Directors Reinstates Quarterly Stock Dividend
DEARBORN– The Board of Directors of Ford Motor Company today declared a quarterly dividend of 5 cents per share.
“We have made tremendous progress in reducing debt and generating consistent positive earnings and cash flow,” said Bill Ford, executive chairman, Ford Motor Company. “The board believes it is important to share the benefits of our improved financial performance with our shareholders. We are pleased to reinstate a quarterly dividend, as it is an important sign of our progress in building a profitably growing company and our confidence in the future.”
Lewis Booth, Ford executive vice president and chief financial officer, said the company’s strong liquidity and balance sheet improvements provide the underlying financial strength to resume paying a quarterly dividend.
“Building a strong balance sheet that supports our growth plans remains a core part of our One Ford strategy,” said Booth. “We have demonstrated our capability to finance our plans and we are confident that we can begin to pay a dividend that will be sustainable through economic cycles.”
The dividend is payable March 1, 2012, to shareholders of record of Class B and common stock on Jan. 31, 2012.
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