Ford doubles dividend, shares rise

11:38 am by Deborah Bacal

Shares in Ford Motor (NYSE: F) climbed almost 2% Thursday after the automaker doubled its quarterly dividend to 10 cents per share.?

The first quarter dividend payout is to be dished out on March 1, to shareholders of record on January 30.?

"Our ability to double our dividend in one year is a testament to our One Ford plan, which has enabled us to maintain a solid balance sheet, while at the same time growing our business to provide our shareholders with more return on their investments," said CFO Bob Shanks.

Through the first three quarters of last year, the company said it increased its liquidity position by $2 billion, and generated 10 consecutive quarters of positive automotive operating cash flow.?

In late October, Ford reported third-quarter earnings that were slightly lower than a year earlier as European losses swamped record North American profits.

The company said it saw record profits and operating margin in North America plus continued solid performance from Ford Credit. Before items, including severance payouts, it earned 40 cents, beating analyst forecasts of 30 cents, according to FactSet.

The automaker beat revenue forecasts of $31.5 billion due to success in North America, where revenues jumped 8 per cent.

In North America, Ford earned $2.3 billion, the third quarter in a row that the company made more than $2 billion in North America and reported an operating margin of 10 per cent or more.?

In Europe, the company lost $468 million as sales have fallen sharply due to the region's economic woes.?

In the Asia-Pacific region, Ford earned $45 million, reversing a loss from a year ago, the first profit in the region since the second quarter of 2011.?

Ford's stock climbed almost 2% this morning to $13.7.?

Source: http://www.proactiveinvestors.com/companies/news/39269/ford-doubles-dividend-shares-rise-39269.html

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