Business
Dividend Declaration
Dividend Declaration.
About this update from Fdm Group (holdings) Plc
[{"type":"text","content":"\n Ford Motor Co\n13 July 2006\n\nContact: Media: Shareholder Inquiries:\n\n Becky Sanch 1.800.555.5259 or\n 1.313.594.4410 1.313.845.8540\n [email protected] [email protected]\n\nFOR IMMEDIATE RELEASE\n\nFORD DECLARES REDUCTION IN QUARTERLY DIVIDEND; \nDIRECTORS REDUCE THEIR COMPENSATION\n\nDEARBORN, Mich., July 13,2006 - The Board of Directors of Ford Motor Company\n(NYSE: F) today declared a third quarter dividend of 5 cents per share on the\ncompany's Class B and common stock. The dividend, which is payable on Sept.\n1,2006 to shareholders of record on Aug. 2,2006, is a reduction of 5 cents per\nshare from the dividend paid in the second quarter of 2006.\n\nIn addition, the Board of Directors voluntarily reduced board member fees by\nhalf.\n\n'Our directors are well aware of the difficulties and sacrifices involved in\nturning around our company,' said Bill Ford, chairman and chief executive\nofficer. 'They have underscored this by voting to reduce their own compensation.\n\n'The directors also agreed that a reduction in the dividend is consistent with a\nbroad range of actions we are taking across the company to support and improve\nthe performance of our automotive operations,' he said. 'Strong liquidity is an\nimportant enabler of our on-going turnaround efforts and this action will make\nan important contribution.'\n\nFord added, 'In the face of increasing challenges, we will continue to look for\nother efficiencies and savings, and we are accelerating ongoing efforts to\nintegrate the product plans of our North America and International operations\nthrough our global product development system. The headwinds we faced at the\nbeginning of 2006 have only become stronger, as consistently higher gasoline\nprices in the U.S. have caused consumer purchase preferences to shift away from\nSUVs and large trucks to smaller cars and crossover vehicles. While this shift\nplays positively to our new vehicle offerings, we must still get our costs in\nline in response to segment adjustments and higher commodity prices that are\naffecting the company. Still, we continue to see progress in many of our\noperations around the world, and I remain highly confident in the long-term\nsuccess of the company.'\n\nFord Motor Company, a global automotive industry leader based in Dearborn,\nMich., manufactures and distributes automobiles in 200 mark...