Ford Motor Company directors today declared a first-quarter dividend of $US0.10 a share on the company's Class B and common stock, 33 percent down from the the 15 cents a share paid in the fourth quarter of 2001 and 67 percent down on the 30 cents a share paid in the third quarter of 2001.

The board also declared a dividend of 51.5625 cents a share on the depositary shares representing the company's Series B Cumulative Preferred Stock.

The dividend on the Series B Preferred Stock equals the quarterly amount of the annual cumulative dividend of $2.0625 per depositary share.

The first-quarter dividends are payable to shareholders on March 1, 2002.