-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VlcJrNfDoLIcaj70kprXq5pQcRBIOXBPegulPYdWkFot41zAIHHaA/tm55M67ucm AgWlbXAkAFsCpyZMqhN4vA== 0000037996-96-000025.txt : 19960712 0000037996-96-000025.hdr.sgml : 19960712 ACCESSION NUMBER: 0000037996-96-000025 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19960711 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960711 SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORD MOTOR CO CENTRAL INDEX KEY: 0000037996 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] IRS NUMBER: 380549190 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03950 FILM NUMBER: 96593294 BUSINESS ADDRESS: STREET 1: THE AMERICAN RD CITY: DEARBORN STATE: MI ZIP: 48121 BUSINESS PHONE: 3133223000 8-K 1 NEWS RELEASES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report July 11, 1996 (Date of earliest event reported) FORD MOTOR COMPANY (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation) 1-3950 38-0549190 (Commission File Number) (IRS Employer Identification No.) The American Road, Dearborn, Michigan 48121 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code 313-322-3000 -2- Item 5. Other Events. - --------------------- News releases each dated July 11, 1996, one relating to a dividend increase for the third quarter of 1996 and the other relating to one-time actions for the second quarter of 1996, are filed as Exhibits 20.A and 20.B, respectively, and are incorporated herein by reference. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. - -------------------------------------------------------------- EXHIBITS Designation Description Method of Filing - ----------- ----------- ---------------- Exhibit 20.A News release dated Filed with this Report. July 11, 1996 relating to to dividend increase. Exhibit 20.B News release dated Filed with this Report. July 11, 1996 relating to one-time actions. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the date indicated. FORD MOTOR COMPANY (Registrant) Date: July 11, 1996 By:/s/Peter Sherry, Jr. ------------------------ Peter Sherry, Jr. Assistant Secretary -3- EXHIBIT INDEX ------------- DESIGNATION DESCRIPTION PAGE - ----------- ----------- ---- Exhibit 20.A News release dated July 11, 1996 relating to dividend increase. Exhibit 20.B News release dated July 11, 1996 relating to one-time actions EX-20.A 2 Exhibit 20.A FORD LOGO Global News Public Affairs Ford Motor Company The American Road Room 904 Dearborn, MI 48121 Telephone: (313) 322-9600 Fax: (313) 845-0570 (313) 337-1764 NEWS IMMEDIATE RELEASE Contact: Christian Vinyard (313) 322-9600 Ford Raises Common Stock Dividend for Third Quarter DEARBORN, Mich., July 11 -- The Board of Directors of Ford Motor Company today declared a third-quarter dividend of 38.5 cents a share on the company's Class B and common stock, a dividend of $1.05 a share on the depositary shares representing the company's Series A Cumulative Convertible Preferred Stock, and a dividend of 51.5625 cents a share on the depositary shares representing the company's Series B Cumulative Preferred Stock. The Class B and common stock dividends represent a 10 percent increase over the 35 cents that has been paid since the fourth quarter of 1995. "This is the fifth increase in the dividend since the first quarter of 1994," said Chairman and Chief Executive Officer Alex Trotman. "This action reflects continuing improvement in our operations and the strength of our balance sheet." Since the first quarter of 1994, the cumulative increase in Ford's dividend on Class B and common stock has been 92.5 percent. The dividend on the Series A Preferred Stock equals the quarterly amount of the annual cumulative dividend of $4.20 per depositary share. The dividend on the Series B Preferred Stock equals the quarterly amount of the annual cumulative dividend of $2.0625 per depositary share. The third-quarter dividends are payable September 3, 1996, to stockholders of record on August 2, 1996. # # # EX-20.B 3 Exhibit 20.B FORD LOGO Global News Public Affairs Ford Motor Company The American Road Room 904 Dearborn, MI 48121 Telephone: (313) 322-9600 Fax: (313) 845-0570 (313) 337-1764 NEWS IMMEDIATE RELEASE Contact: Christian Vinyard (313) 322-9600 Ford Outlines One-Time Actions for Second Quarter; Takes Steps to Assume Control of Budget Rent a Car DEARBORN, Mich., July 11 -- Ford Motor Company today announced a series of separate actions concerning Associates First Capital Corporation (NYSE: AFS) and Budget Rent a Car Corporation that will result in a one-time after-tax net gain in the second quarter of $213 million and ultimately give Ford management control over the rental car company. David N. McCammon, vice president - Finance, reported that the recent initial public offering of 19.3 percent of The Associates will result in a one-time after-tax gain of $650 million. Ford also will write down to market value loans it made to Budget in recent years along with its investment in Budget's non- voting preferred shares, resulting in a one-time after-tax charge against earnings of $437 million. Taken together, the two actions will produce a one-time after-tax gain of 18 cents per fully diluted share for the second quarter. "This is the prudent thing to do," McCammon said. "We have concluded that Ford's investment in Budget should be recognized in terms of its market valuation." Ford also will notify the Federal Trade Commission and the U.S. Justice Department, as provided under the Hart-Scott-Rodino Act, that following government review, it intends to acquire the common stock in Budget Rent a Car. 2 Ford has had a relationship with Budget for more than 25 years that involves both the sale and financing of cars and trucks. In 1989, Ford acquired non-voting preferred shares in Budget. "The rental car business can continue to be a good one for Ford," McCammon said. "Hertz has posted record profits in each of the last three years and is clearly the industry leader. The steps we're outlining today will allow Budget to realize its full potential," he said. Ford purchased part of Hertz in 1987 and took complete ownership in 1994. Last year, Hertz earned $105 million after taxes. "We are pleased with our investment in Hertz," McCammon said. "It has demonstrated that maintaining our ownership position in the rental car business can be beneficial to Ford." In late 1995, Budget's board installed new senior management and elected Jack Frazee chairman and chief executive officer. "Budget's new management is well on its way to achieving profitability this year," McCammon said. "We're very confident in the direction and pace of progress that is under way at Budget," he added. Ford purchased The Associates in 1989 for $3.35 billion. The initial public offering was completed in May and The Associates became the third largest domestic IPO in history. Today, The Associates has a market value of about $13 billion and is the largest publicly traded finance company as well as a member of the Fortune 500. "Obviously, Ford's acquisition of The Associates has been an outstanding investment," McCammon said. # # # July 11, 1996 -----END PRIVACY-ENHANCED MESSAGE-----