S&P: Ford unchanged

Standard & Poor's said news that Ford Motor Co.'s will begin paying a quarterly dividend of 5 cents per share as of March 1, 2012 does not affect the ratings or outlook on the company.

This dividend would equate to about $800 million for an entire year, S&P said.

Ford has previously indicated that it was considering implementing a dividend, the agency said.

The annual dividend is less than the minimum $2 billion that S&P said it assumed Ford would generate in automotive operating cash flow in each of the next few years for the current rating.

Still, the agency noted that prospects are growing for weaker industry sales in Europe and slower growth in other large markets such as Brazil and this could dampen cash flow prospects for operations outside North America.

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