Ford Reportedly Considering Spinning Off Visteon

Its board is also reportedly eying a dividend increase or a stock buyback.
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Ford Motor's

(F) - Get Report

board Wednesday will reportedly consider plans to spin out its part-making unit,

Visteon

, as well as proposals to boost the company's shares with a dividend increase or a stock buyback.

An announcement on the specifics on how Ford will make Visteon independent is expected this week, according to a report in Wednesday's

Wall Street Journal

.

Visteon is the world's No. 2 auto parts maker -- behind

Delphi Automotive

(DPH)

-- with operations in 21 countries. Its automotive products include chassis systems, climate control systems and complete instrument panel; nonautomotive products include theater seats and power generators. Ford accounts for more than 90% of Visteon's sales.

Visteon has an alliance with

Intel

(INTC) - Get Report

and

Microsoft

(MSFT) - Get Report

to develop a computing platform for cars.

Ford shares closed Wednesday up 1 11/16, or 3.3%, at 53 5/8.