Ford Motor Co. on Monday declared a first-quarter regular dividend of 10 cents per share for the company's outstanding common and Class B stock.
The payment to shareholders marks the second since the Dearborn automaker suspended its quarterly dividend in March 2020 as a cost-saving measure to prepare for financial fallout from the coronavirus pandemic.
Ford announced at the end of October, when it reported third-quarter financial results, that its board of directors had voted to reinstate a regularly quarterly dividend in the fourth quarter. The 10-cents-per-share dividend was paid out Dec. 1.
The first-quarter dividend is payable on March 1 to shareholders of record as of the close of business Jan. 31, Ford said.
Ford stock closed down 2.41% Monday to $23.85 per share. The automaker's stock has been on something of a run recently, closing as the highest-growth auto stock in 2021.
Ford also recently overtook rival General Motors Co. in market capitalization for the first time since 2016. On Monday, Ford's market capitalization was $95.3 billion to GM's $88.7 billion.
