Global automobile company Ford Motor Co said it will start paying dividends again after it had stopped payments for more than five years, the media reports said.
The board of the automobile maker decided to pay a 5 cent quarterly dividend, after it discontinued payments in September 2006 when Chief Executive Alan Mulally was recruited.
The company will be paying a quarterly dividend for the first time in more than five years on March 1, 2012.
Executive Chairman Bill Ford said, "We have made tremendous progress in reducing debt and generating consistent positive earnings and cash flow." He further added, "The reinstituted dividend is an important sign of our progress in building a profitably growing company and our confidence in the future."
The automobile company reported its 10th consecutively profit in October. It reported an income of $1.65 on revenues of $33.1 billion.
Ford Motor Company is an American multinational automaker based in Michigan. It is the second largest automobile company in the U.S. and fifth largest in the world based on annual vehicle sales in 2010.
