(Bloomberg) — Ford Motor Co. suspended the dividend that management repeatedly vowed to maintain even through a downturn as a global pandemic forces the struggling automaker to protect its cash reserves.The company took the step to prioritize financial flexibility and investments in new-product launches this year, according to a statement. Ford also will fully draw $15.4 billion from two credit lines and retracted the 2020 earnings guidance it gave investors Feb. 4.“While we obviously didn’t foresee the coronavirus pandemic, we have maintained a strong balance sheet and ample liquidity so that we could weather economic uncertainty and continue to invest …read more
Source:: Yahoo Finance
