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Ford revives dividends in Q4

Detroit — Ford motor Revive regular dividends from the fourth quarter, more than a year and a half later Pause payment During the early days of the coronavirus pandemic.

Ford said a fourth-quarter dividend of 10 cents per share for outstanding common and class B shares will be paid to shareholders at the close of business on November 19. The company announced a dividend on Wednesday. We announced third-quarter earnings that exceeded Wall Street’s expectations.

Ford’s stock surged about 5% during overtime trading. Shares fell 2.7% on Wednesday to $ 15.51 per share.

“The strength of the business gives us the confidence to revive dividends at this point,” CFO John Lawler told reporters on Wednesday.

Laura said the company is confident that it has no capital constraints and can fund an aggressive turnaround plan called Ford +. The plan includes billions of dollars in investment and dividend payments for electric and self-driving cars.

According to Roller, the quarterly cost of dividends will be about $ 400 million.

Last year, a coronavirus pandemic caused automakers to shut down factories and dealers to stop the Covid epidemic, and Ford quickly cut dividends and increased cash.

General MotorsIt cut its dividend a month after Ford, but hasn’t revived it.

Ford revives dividends in Q4

Source link Ford revives dividends in Q4

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