(Bloomberg) -- Ford Motor Co. shares jumped sharply on Thursday, driving the price to the highest since 2014, after the automaker boosted its full-year profit forecast and restored its dividend. 

The stock surged as much as 13% to $17.58 in New York, their largest intraday gain since June 2020. That drove Ford’s advance to 98% this year, more than triple the gain for rival General Motors Co. 

The rally followed the second increase to the automaker’s forecast in as many quarters as it pushes forward with investments in electric vehicles and benefits from an easing up in the shortage of semiconductors. 

The shares also got a boost from Ford’s decision to restore its dividend, which was suspended in March 2020 due to the coronavirus pandemic. 

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