Ford brings back dividend after 5-year gap
Reuters – December 8, 2011
By Deepa Seetharaman
DETROIT (Reuters) - Ford Motor Co (NYSE:F) restored its dividend for the first time in five years on Thursday, with a quarterly payout of 5 cents per share that the No. 2 U.S. automaker said it could maintain during any future downturn.
The dividend, payable to common and Class B shareholders in March, will cost Ford about $760 million a year. The company has little more than 3.8 billion shares outstanding, according to the latest regulatory filing.
The company last paid a quarterly dividend, also 5 cents a share, in September 2006 when Ford was in crisis mode. That same month, Ford Chairman Bill Ford brought in Alan Mulally as chief executive to lead a turnaround credited with staving off a bankruptcy.
"Compared to the past, we've substantially restructured the company," Chief Financial Officer Lewis Booth said during a conference call. "Our breakeven is lower than it was and we would expect this to be a sustainable dividend."
Full story: http://finance.yahoo.com/news/Ford-brings-back-dividend-5-rb-3103002209.html?x=0
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