Ford Motor Co. on Thursday cut its dividend in half to five cents a share, a move expected to save the struggling automaker about $92 million per quarter.
The company's board of directors also voted to halve its members' own fees.
"Our directors are well aware of the difficulties and sacrifices involved in turning around our company," Chairman and chief executive Bill Ford said in a statement. "They have underscored this by voting to reduce their own compensation.
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