Ford Motor Company Q4 Dividend Declared at 15 Cents

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The Board of Directors of Ford Motor Company today declared a fourth quarter regular dividend of $0.15 per share on the company’s outstanding Class B and common stock. It is currently trading at ~$8.60 (7% yield), with a 52-week range of $7.41 – $10.56.

Ford Motor Company Q3 sales dropped -5% year-over-year due to a striking -30% drop in car sales to 77,231. Year-to-date sales at 1,820,836 compared to 1,887,625 in 2018 were off -4% in the first sales report since credit agencies downgraded Ford debt to junk status.

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Ford, as always,  tried  a positive spin claiming it was a transition year of its phasing out of cars – Focus, C-Max, Taurus – with a changeovers ongoing in the all new Explorer and Escape, which are undergoing complex launches that in our view are showing mixed results. The freshened Escape went on sale last week. The new platform Explorer launch is going slowly with hopes that sales will expand in Q4. How Ford ran out of inventory of Explorers is puzzling. However, given Ford history, we bet quality issues loomed large.

The fourth quarter dividend is the same amount of regular dividend that has been paid by the company each quarter since 2016. The fourth quarter dividend is payable on Dec. 2, 2019, to shareholders of record at the close of business on Oct. 22, 2019.

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