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Ford Motor Company increased 5.5% to $12.74 after the vehicle maker reported better-than-expected earnings and announced an additional dividend to shareholders.

Revenue in the fourth quarter rose 2% to $46 billion from $44 billion, net income swung to a profit of $1.3 billion from a loss of $0.5 billion, and diluted earnings per share were 32 cents compared to a loss of 13 cents a year ago.

The company declared a regular first-quarter dividend of 15 cents per share and announced a supplemental dividend of 18 cents per share payable on March 1 to shareholders on record on February 16.

The company also said it plans to defer certain investments in the EV business because mainstream adoption of electric vehicles is "happening at a slower rate" than the industry expected.

07 Feb, 2024

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