The Board of Directors of Ford Motor Company [NYSE: F] today declared a fourth-quarter dividend of 30 cents a share on the company’s Class B and common stock. This represents a five percent increase over the level of dividend paid in the third-quarter of 2000, adjusted for the company’s recent Value Enhancement Plan.
“We continue to reward our shareholders,” said Henry Wallace, Ford Motor Company chief financial officer. “The spin-off of Visteon, the $5.7 billion Value Enhancement Plan, the announced $5 billion stock repurchase program and now an increased dividend all demonstrate our commitment to Ford’s tradition of rewarding shareholders.”
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The board also declared a dividend of 51.5625 cents a share on the depositary shares representing the company’s Series B Cumulative Preferred Stock.
The dividend on the Series B Preferred Stock equals the quarterly amount of the annual cumulative dividend of $2.0625 per depositary share.
The fourth-quarter dividends are payable on December 1, 2000 to shareholders of record on November 1st.
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