Fired up: A worker assembles a Ford car at a plant in Chicago. The automaker is moving quickly to boost the output of electric vehicles. ―Bloomberg
WASHINGTON: Ford Motor Co, charging forward with big investments in electric vehicles (EVs), raised its full-year profit forecast and said it will restore its dividend, sending the stock soaring by as much as 9.5%.
The automaker lifted its 2021 profit forecast for the second time in as many quarters, and is now projecting US$10.5bil (RM43.63bil) to US$11.5bil (RM47.79bil) in earnings before interest and taxes. The reinstated quarterly dividend of 10 cents (RM0.42) a share will be paid on Dec 1, the company said. Ford had suspended the payout at the onset of the pandemic in March 2020.
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