Ford's Alan Mulally: Dividends Are About Creating Shareholder Value

“Clearly a dividend is about creating shareholder value,” Alan Mulally, CEO of Ford Motor Company F, said this afternoon. Mulally spoke to CNBC about the company's earnings, which were below Street expectations ($.30 vs. $.48 consensus). “Clearly it was a terrific quarter for Ford,” Mulally said. “We had a number of things that were in play. First, we were investing in new products. We also didn't have a recurrence in the stock that we had for the Cash for Clunkers program.” When asked if someone was at fault (Ford or analysts) for the disconnect in earnings, Mulally said that he did not believe anyone was responsible. “Year-over-year, there's such a difference between what we went through in 2009 and 2010,” Mulally said. “This was a fantastic year for us. It's a great quarter for Ford and a fantastic year – the best year we've had since 1999.” With regard to the structural costs (which were higher in the fourth quarter), and the rising capital expenditures, Mulally said that he thinks the most important element that Ford gave guidance on was the company's operating margins. Earlier this year, Benzinga's Jason Raznick sat down with Alan Mulally at the North American International Auto Show. During the interview, Mulally outlined Ford's plan to build a car for everyone.