CORRECTED-Ford doubles quarterly dividend, to pay out $370 million

Thu Jan 10, 2013 10:15am EST

(Corrects paragraph 4 to say Ford last paid a 10-cent dividend in June 2006, not May, and paragraph 5 to say it restored dividends in March 2012, not December 2011)

Jan 10 (Reuters) - Ford Motor Co doubled its first-quarter dividend to 10 cents per share despite recent market share losses by the company and weakness in its European business.

The dividend will cost Ford about $370 million in the first quarter.

The first-quarter dividend is payable on March 1 to shareholders of record on Jan. 30, the No.2 U.S. automaker said in a statement on Thursday.

Ford last paid 10-cents-per-share as dividend in June 2006. Shortly after that, the company reduced and later suspended its dividend as it struggled to avoid bankruptcy.

It restored dividends in March 2012.

Ford shares jumped 3 percent in premarket trade to $13.83. (Reporting by A. Ananthalakshmi in Bangalore; Editing by Sreejiraj Eluvangal)

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