Ford Boosts Quarterly Dividend 9.5%

Ford Motor Co. increased its quarterly dividend 9.5%, or 4 cents a share, to 46 cents, the auto maker’s latest move to boost its shares. Ford executives have said for months they were considering measures to boost the value of the stock, partly because the company’s automotive unit now has a cash reserve of $14 billion. The increased dividend also affects Class B shares, and will be paid Dec. 1 to shareholders of record on Oct. 30. Ford is also considering using its cash reserve to boost its stake in either South Korea’s Kia Motor Co. or Japan’s Mazda Motor Co., or both. Ford’s shares fell 6 cents to close at $41.13 on the NYSE.