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Bulletin: Ford Motor Co. Starting Quarterly Dividend in 2012 Does Not Affect Rating Dec 11
Standard & Poors, Dec 2011
Abstract
NEW YORK (Standard & Poor's) Dec. 8, 2011--Standard & Poor's Ratings Services said today that Ford Motor Co.'s (BB+/Stable/--) announcement that it will commence paying a quarterly dividend of 5 cents per share as of March 1, 2012 (this would equate to about $800 million for an entire year) does not affect the ratings or outlook on the company. Ford has previously indicated that it was considering implementing a dividend. The annual dividend is less than the minimum $2 billion we assume Ford will generate in automotive operating cash flow (reported before dividends) in each of the next few years for the current rating. We believe the company will be able to meet our expectations for the rating, despite the...
Companies mentioned in this report are: Ford Motor Co.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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