DEARBORN, Mich. (AP) — Ford is raising the quarterly dividend it pays shareholders for the second time since restoring the payout in 2012.

The second-largest U.S. automaker says its board declared a first-quarter dividend of 12.5 cents per share, a 25 percent increase from the previous 10-cent payout.

Ford Motor Co. says the new dividend is payable on March 3 to shareholders of record at the close of business on Jan. 31.

The Dearborn, Mich., automaker restored its quarterly dividend at 5 cents per share in the first quarter of 2012 and then doubled it a year later.

The announcement comes a few days after CEO Alan Mulally said he planned to stay with the automaker at least through the end of this year.

Ford shares are rising in premarket trading.