Ford suspended dividends in 2006, The Detroit News reported. But at its annual meeting in Wilmington, Del., Executive Chairman Bill Ford Jr. said: "It's very early days in our recovery, and we still have a lot of debt. And I think the most important thing we can do as a company is to get our balance sheet strengthened and in order."
Ford also extended an invitation to Chief Executive Officer Alan Mulally to stay on the job indefinitely.
"Sixty-five is the new 55," Ford said, a reference to Mulally's age, which is 64.
Mulally said the company needs "to accelerate the improvement of our balance sheet."
With Ford expecting to make a profit in 2010, "Shareholders have had pretty good news over the last year," Mulally said.
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