On Thursday, the nation’s second largest automaker announced plans to boost it quarterly dividend.
Ford (F) said it would raise its quarterly dividend to 12.5 cents a for each share of qualifying F stock. The higher dividend will be paid on outstanding Class B and common F stock for the first quarter of 2014. Holders of F stock on Jan. 31, will receive the higher dividend for F stock on Mar. 4.
The bump represents a 25% increase over the dividend paid on F stock for the first quarter of 2013. It also marks the second time Ford has raised its quarterly dividend on F stock in the lat two years. The automaker attributed the dividend hike to “strong 2013 performance.”
F stock climbed more than 1% in pre-market trading on Thursday. F stock has dropped about 11% since October.