Ford Authority

Ford Motor Company Declares Dividend For Second Quarter 2024

With the company pivoting its strategy to focus on hybrids, commercial fleets, and a diversified portfolio, coupled with supply chain issues that are quickly becoming a thing of the past, Ford Motor Company stock has rebounded as of late, and was even named as a top pick by Morgan Stanley back in early February. Now that the first quarter of the year is in the proverbial rear-view, Ford also announced that it enjoyed a successful Q1 – raking in a net income of $1.3 billion on $42.8 billion in revenue, numbers that are 24.1 percent and 3.1 percent higher than Q1 2023, respectively. Now, as a result, Ford Motor Company has declared a dividend for the second quarter of the year, too.

That Q2 regular dividend will be 15 cents, the automaker has announced, which is payable June 3rd to shareholders of record at the close of business on May 8th. According to the automaker, this dividend is the result of its continued strong performance and disciplined capital allocation, which have enabled the company to fund its Ford+ initiatives while also meaningfully returning capital to shareholders – the latter at a targeted rate of 40-50 percent of adjusted free cash flow.

With operating cash flow in Q2 coming in at $1.4 billion, adjusted free cash flow was a use of $500 million. Both of these figures reflect the working capital effects from roughly 60,000 vehicles that were in inventory at the end of the first quarter, but are expected to be shipped in Q2. Regardless, CFO John Lawler said that the company’s balance sheet remains “rock solid,” with $25 billion in cash and nearly $43 billion in liquidity at quarter-end.

“Customers want vehicles that they’re passionate about, choices in how they’re powered, quality that’s constantly getting better, and great value,” said Ford Motor Company CEO Jim Farley. “With Ford+, we’re increasingly giving them all those things in ways that others don’t and creating a company that will lead for the long haul.”

We’ll have more on Ford stock soon, so be sure and subscribe to Ford Authority for ongoing Ford stock news and around-the-clock Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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