Ford Doubles Dividend

Ford Motor Co. has doubled its quarterly dividend to 10 cents per share, starting with the March 1 payment to shareholders of record on Jan. 30.

Ford says the increase reflects its strong balance sheet, increased liquidity and improving business. The company stopped paying dividends in late 2006 and reinstated a quarterly payout of 5 cents per share a year ago.

The dividend hike will cost the company an additional $763 million per year, including an increase of more than $14 million in payouts to members of the Ford family, according to news reports.