Ford Cuts 4th-Quarter Dividend by 50%
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Ford Motor Co. cut its dividend for the first time since 1991, in a move highlighting this year’s declining fortunes at the world’s second-largest auto maker.
Ford said its board had declared a fourth-quarter dividend of 15 cents a share on the company’s Class B and common stock, down 50% from 30 cents a share in the third quarter.
Industry analysts said the move was prudent and expected by the investor community. It follows the company’s recent warning that it will post its second consecutive quarterly loss since the early 1990s when it releases its third-quarter financial results next week.
Ford shares closed up 58 cents at $18.13 on the New York Stock Exchange, before the announcement.
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