Car firm Ford lifts dividend

Marion Dakers
CAR MAKER Ford has hiked its quarterly dividend by 25 per cent, pushing its shares up nearly two per cent in New York yesterday.

The firm reported $2.6bn profit before tax in the most recent reported quarter and chief financial officer Bob Shanks said the $0.125 payout would give shareholders “a regular, growing dividend that we believe is sustainable over an economic or business cycle.

The company reinstated its dividend in 2012 after fighting back from the collapse of the US car industry during the financial crisis. Ford’s rival, General Motors, required a bailout, which it exited last year at a $10.5bn cost to the US.