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Ford aims for higher spending, dividend boost by mid-decade

The Ford logo is pictured on the rooftop of Austria's Ford head branch in Vienna March 19, 2013. REUTERS/Heinz-Peter Bader
The Ford logo is pictured on the rooftop of Austria's Ford head branch in Vienna March 19, 2013. REUTERS/Heinz-Peter Bader

DETROIT (Reuters) - Ford Motor Co on Wednesday laid out a more ambitious mid-decade plan that includes a 25 percent increase in projected capital spending, to take advantage of growing automotive demand worldwide, as well as the possibility of a higher dividend.

The No. 2 U.S. automaker expects capital expenditures to be around $7.5 billion by mid-decade, up from its previous aim of $6 billion, Ford said in an investor presentation.

Ford also plans to return more capital to shareholders in the form of a dividend that would increase with the company's earnings and could be sustained even during an economic downturn.

(Reporting by Bernie Woodall and Deepa Seetharaman; Editing by Gerald E. McCormick)

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