Bloomberg News Ford Boosts Dividend 20% After Y
Post# of 23071
Posted On: 01/08/2015 9:24:15 AM
Bloomberg News
Ford Boosts Dividend 20% After Year of Declining Profit
By Keith Naughton January 08, 2015
Ford Motor Co. (F:US) raised its quarterly dividend (F:US) 20 percent, the third boost in as many years, even as the automaker has said profit would decline for 2014.
The payout, which had been 12.5 cents a share, was boosted to 15 cents, matching a Bloomberg forecast (F:US). The Dearborn, Michigan-based company restored the dividend in 2012 at 5 cents after a hiatus of more than five years. The last increase, by 25 percent, was a year ago. The dividend is payable March 2 to shareholders of record at the close of Jan. 30.
Chief Executive Officer Mark Fields told investors in September that 2014 pretax profit would fall to $6 billion, short of a goal of $7 billion to $8 billion, on higher recall costs, widening overseas losses and spending to introduce an aluminum-bodied F-150 pickup. The second-largest U.S. automaker has said it’s still committed to regularly raising the dividend.
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The increase is consistent with the company’s strategy, Ford said today in a statement.
“Our plan for dividends is to continue to grow regular dividends up to the point that we don’t believe this is sustainable,” Chief Financial Officer Bob Shanks told investors Sept. 29 in Dearborn. “We don’t think we’re at that point today where we’ve reached the level where they’re not sustainable over a downturn.”
The 15-cent dividend would pay $42.5 million annually to the founding family through its 70.9 million Class B shares, which give them control of the company. Family members including Executive Chairman Bill Ford, great-grandson of founder Henry Ford, are the exclusive owners of the Class B shares, which hold 40 percent voting power.
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NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'