Ford sets a special $1 billion dividend

Ford Motor Co on Tuesday declared a $1 billion supplemental cash dividend, but its outlook for 2016 profit failed to exceed Wall Street's estimates, sending its stock down in after-hours trading. The No 2 US automaker said it expected record 2015 pre-tax profit, excluding special items, in the "upper half" of its outlook for $10 billion to $11 billion. That is above the average analyst forecast of $9.4 billion, according to Thomson Reuters I/B/E/S.
Profit for 2016 will be at least as high, excluding special items, said Ford. Analysts were expecting pre-tax profit of $11 billion for 2016, on average. "Their guidance is in line or below what was expected," said Matthew Stover at Susquehanna Financial. Ford shares dipped about 1 percent from Tuesday's close, to $12.55, in after-market trading.