Ford doubles dividend to 10 cents

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Associated Press

Posted on January 10, 2013 at 10:02 AM

DEARBORN, Mich. (AP) — Ford is doubling its quarterly dividend to 10 cents, just nine months after paying its first dividend in more than five years.

The automaker says the payout is part of its goal of delivering profitable growth for all of its stakeholders.

Shares are up 3 percent in premarket trading to $13.47, just shy of their 52-week high.

Through the first three quarters of 2012, Ford says its liquidity has increased by $2 billion. The first-quarter dividend will be paid on March 1 to shareholders of record as of Jan. 30.

Ford Motor Co., 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 per share each quarter.

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