Ford: suspends dividend due to current crisis
(CercleFinance.com) - Ford said on Thursday that it will suspend its dividend to preserve cash in the wake of the current Covid-19 crisis.
The US carmaker also said that it is withdrawing the guidance it provided in February for 2020 financial performance, which did not factor in the effects of the coronavirus.
In a statement, Ford announced it recently obtained 15.4 billion dollars of additional cash on balance sheet, drawing from two credit lines.
It has now 22 billion dollars in cash and 35 billion dollars in liquidity.
This week the Dearborn, Michigan-based company announced plans to temporarily halt production at its plants in North America and Europe, as from today.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The US carmaker also said that it is withdrawing the guidance it provided in February for 2020 financial performance, which did not factor in the effects of the coronavirus.
In a statement, Ford announced it recently obtained 15.4 billion dollars of additional cash on balance sheet, drawing from two credit lines.
It has now 22 billion dollars in cash and 35 billion dollars in liquidity.
This week the Dearborn, Michigan-based company announced plans to temporarily halt production at its plants in North America and Europe, as from today.
Copyright (c) 2020 CercleFinance.com. All rights reserved.