Why Shares of Ford Are Falling Today
Shares of Ford Motor (NYSE: F) were trading lower on Thursday, after the company said that it is suspending its dividend and drawing down its lines of credit as it braces for a period of factory shutdowns.
As of 11 a.m. EDT, the automaker's stock was down about 4.7% from Wednesday's closing price.
Ford said that is borrowing $15.4 billion from its existing lines of credit, and that it has suspended its $0.15 quarterly dividend, to bolster its balance sheet as it braces for a period of much lower revenue.
Source Fool.com
