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Ford sets Q4 dividend at 10 cents

Reuters / October 10, 2002

DEARBORN, Mich. - Ford Motor Co., whose stock and bond prices have been battered by investors this week, said on Thursday it was setting a fourth-quarter dividend of 10 cents per share, the same payout it has offered all year.

The world's second-largest automaker, which is implementing a multiyear turnaround effort after losing $5.45 billion in 2001, has said it expects to show a modest profit before special charges and one-time items when it reports its third-quarter financial results next Wednesday.

Ford cut its dividend for the first time in a decade for the fourth-quarter of 2001, when it went from 30 cents to 15 cents. It trimmed it again for the first quarter of 2002, when it was set at 10 cents.

With the number of shares outstanding at the close of 2001, a 10 cent dividend payment costs Ford about $182 million.

My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.

My next Ford.....
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