Ford Motor Co. is raising the quarterly dividend it pays shareholders for the second time since restoring the payout in 2012.
The second-largest U.S. automaker said Thursday its board declared a first-quarter dividend of 12.5 cents per share, a 25 percent increase from the previous 10-cent payout. The new dividend is payable on March 3 to shareholders of record at the close of business on Jan. 31.
Dearborn-based Ford stopped paying a dividend in 2006, a year in which it lost $12.6 billion. After a restructuring, it returned to profitability in 2009. Ford restored its quarterly dividend at 5 cents per share in the first quarter of 2012 and doubled that dividend a year later.
The largest U.S. automaker, General Motors Co., hasn’t paid a dividend since 2008. But CEO Dan Akerson recently hinted one is coming soon.
via The Associated Press