Ford Motor (F) Declares $0.15 Quarterly Dividend; 4.7% Yield
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Ford Motor (NYSE: F) declared a quarterly dividend of $0.15 per share, or $0.6 annualized. The dividend will be payable on March 1, 2017, to stockholders of record on January 20, 2017, with an ex-dividend date of January 18, 2017. The annual yield on the dividend is 4.7 percent.
Also declares first quarter supplemental cash dividend – or $0.05 per share – for a combined $0.20 per share.
Ford said it is on track for another strong year in 2016 and continues to expect about $10.2 billion in total company adjusted pre-tax profit. The company now expects its adjusted effective tax rate to be in the low 30 percent range. Ford will give further details this evening when it presents at the Deutsche Bank Global Auto Industry Conference. The slide deck of that presentation can be found here.
“As we close 2016, Ford continues to be a solid investment with attractive upside on emerging opportunities,” said Mark Fields, Ford president and CEO. “We are pleased to, once again, reward our shareholders with a regular and supplemental dividend, as we continue delivering profitable growth for all.”
As a result of the company’s performance in 2016, Ford’s Board of Directors declared a first quarter dividend of $0.15 per share and a $200 million supplemental cash dividend that is equal to $0.05 per share. This provides a combined total of $0.20 per share of dividends on the company’s outstanding Class B and common stock.
The first quarter regular dividend maintains the same level as the dividends paid in 2016. The first quarter regular and supplemental dividends are payable on March 1, 2017 to shareholders of record at the close of business on Jan. 20, 2017. Subject to the approval of the Board of Directors, the company will make distributions totaling about $2.8 billion in 2017. By year-end, cumulative distributions to shareholders will total $15.4 billion since the company’s regular dividend was restored in 2012.
Consistent with the guidance outlined at Ford’s Investor Day in September, the company expects continued strong performance in 2017, with total company adjusted pre-tax profit somewhat lower compared to 2016 due to increased investments in electrification, autonomy and mobility. The company also anticipates cost efficiencies of greater than $3 billion in 2017 alone and improved profitability in 2018 – led by gains in the core business.
At tonight’s Deutsche Bank Global Auto Industry Conference, Fields will provide an update on Ford’s strategic priorities to fortify its profit pillars, transform underperforming parts of its business and grow emerging opportunities as it expands to an auto and mobility company.
For a dividend history and other dividend-related data on Ford Motor (F) click here.
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