Ford Motor on Thursday suspended its quarterly dividend and made other moves to shore up the auto maker's health in the coronavirus crisis. It restored its dividend in 2012. Ford Motor Company suspended its stock dividend and tapped its lines of credit to shore up its balance sheet in the face of the coronavirus. by Shane McGlaun March 19, 2020, 8:45 am 1 Comment. Sponsored Links. Ford Dividend Suspended As It Borrows $15.4 Billion In Cash. Ford suspends dividend, withdraws 2020 guidance as production halts. Ford last suspended its dividend in 2007, ahead of the last financial crisis, during which it narrowly avoided bankruptcy. In addition, the company is fully drawing down two lines of credit to raise a total of about $30 billion cash. Ford Motor Co. suspended its dividend and temporarily halted production across North American and Europe to preserve cash and provide additional financial flexibility. 2020 will be a tough year in the automotive market. It restored its dividend in 2012. 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. Ford shares have fallen 55% since January 1, 2020. The suspension of the 15-cent payout — a measure CEO Jim Hackett has said he … Most expect the financial performance for Ford and other major automakers to be massively impacted due to the coronavirus. Ford Suspends Dividend, Draws $15.4 Billion From Credit Lines; The company took the step to prioritize financial flexibility and investments in new-product launches this year, according to a statement. Ford dividend cut a sign of more coronavirus troubles ahead.