Ford to Resume Paying Dividend

By the Associated Press | December 8, 2011 | 12:15 PM EST

A Ford sign is seen at the Salem Ford dealership in Salem, N.H., Tuesday, Oct. 25, 2011. Ford says it earned $1.6 billion in the third quarter, down 2 percent from a year ago. The drop was partly due to a charge for hedging on commodities like copper whose prices fell during the quarter. (AP Photo/Charles Krupa)

DETROIT (AP) — Ford Motor Co. says it will resume paying a dividend this spring for the first time since 2006.

The company said Thursday it will pay a quarterly dividend of 5 cents per share on March 1 for shareholders of record as of Jan. 31.

The automaker had stopped paying a dividend in September 2006 when it was deeply in debt.

But Ford says it had made enough improvements in its balance sheet to resume the dividend.

Ford reported its 10th straight profitable quarter in the third quarter of this year.