filings.toolsItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities (Continued)
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities (Continued)
Issuer Purchases of Equity Securities
In the fourth quarter of 2024, we completed an anti-dilutive share repurchase program to offset the dilutive effect of share-based compensation granted during 2024. The program authorized repurchases of up to 53 million shares of Ford Common Stock. As shown in the rightmost column of the table below, we do not intend to make any further purchases under this program because its anti-dilutive purpose was fulfilled after purchasing only 36.43 million shares.
| Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly-Announced Plans or Programs | Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs | ||||||||||||||||||||||
| October 1, 2024 through October 31, 2024 | — | $ | — | — | 30,270,000 | |||||||||||||||||||||
| November 1, 2024 through November 30, 2024 | 13,700,000 | 10.91 | 13,700,000 | 16,570,000 | ||||||||||||||||||||||
| December 1, 2024 through December 31, 2024 | — | — | — | 16,570,000 (a) | ||||||||||||||||||||||
| Total / Average | 13,700,000 | $ | 10.91 | 13,700,000 |
(a)The share repurchase program announced February 7, 2024 authorized repurchases of up to 53 million shares of Ford Common Stock. Although we have repurchased 36.43 million shares and the program was authorized for up to 53 million, we do not intend to make any further purchases under this program because its anti-dilutive purpose has been fulfilled.
Dividends
The table below shows the dividends we paid per share of Common and Class B Stock for each quarterly period in 2023 and 2024:
| 2023 | 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
| First Quarter**(a)** | Second Quarter | Third Quarter | Fourth Quarter | First Quarter**(a)** | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||||||||||||
| Dividends per share of Ford Common and Class B Stock | $ | 0.80 | $ | 0.15 | $ | 0.15 | $ | 0.15 | $ | 0.33 | $ | 0.15 | $ | 0.15 | $ | 0.15 |
(a)In the first quarter of 2023 and 2024, in addition to a regular dividend of $0.15 per share, we paid a supplemental dividend of $0.65 per share and $0.18 per share, respectively.
On February 5, 2025, we declared a regular dividend of $0.15 per share and a supplemental dividend of $0.15 per share.
Subject to legally available funds, we intend to continue to pay a regular quarterly cash dividend on our outstanding Common Stock and Class B Stock. The declaration and payment of future dividends is at the sole discretion of our Board of Directors after taking into account various factors, including our financial condition, operating results, available cash, and current and anticipated cash needs.
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