The oldest and perhaps the most famous American automaker Ford Motor has officially announced that the company stops paying dividends. Moreover, the auto giant has decided to withdraw the forecast for the current year. Coronavirus pandemic and the economic crisis are the reasons for such a decision.
Fortunately, the board of the company has two credit lines, the total amount of which is 15.4 billion US dollars. Ford plans to involve previously unused tools in maintaining their position in the market.
Also, the automaker did their best in order give their new customers a six-month deferral of payments.
Just a couple of days ago, Ford had to recall several tens of thousands of cars sold in the Russian Federation due to the identified technical malfunction.
All these difficulties did not prevent the American auto giant from directing its facilities to the production of artificial lungs ventilation machines.
Unfortunately, Ford stock quotes are now showing a 7.1% drop, which is likely to continue.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group