Gm To Reinstate Quarterly Dividend Raises Share Buybacks To 5 Billion

Patrick T. Fallon | AFP | Getty Images DETROIT – General Motors is reinstating a quarterly cash dividend for shareholders that was cut to preserve capital in the early days of the coronavirus pandemic, though it will be at a much lower rate than when it was suspended. The Detroit automaker on Friday said GM’s board of directors approved a dividend distribution on the company’s outstanding common stock at a rate of 9 cents per share. That’s down about 76% from 38 cents a share when the dividend was suspended in April 2020. GM also announced that it will continue and increase its share repurchase opportunities to $5 billion of common stock, up from $3.3 billion previously remaining under the program. He did not set a timetable for the buybacks. Investors are wondering when GM’s quarterly dividend will be reinstated, especially after rival GM’s October 2021 reinstatement of a 10-cent-per-share quarterly dividend for Ford Motor shareholders. GM CEO Mary Barra said earlier this year that the company would “examine all opportunities to return excess capital to shareholders” but that the priority was to accelerate its transformation plans that include a $35 billion investment in electric and autonomous vehicles by 2025. In a statement on Friday, Barra said progress on “key strategic initiatives has improved our visibility and strengthened confidence in our ability to fund growth while also returning capital to shareholders.” The company’s board felt the 9 cents was an “appropriate” dividend as the company continues to invest in its transformation plan, according to GM spokesman Jim Cain. According to the company, the first dividend will be paid on September 15 to shareholders at the close of business on August 31. “GM’s consistently strong earnings, margins and cash flow, investment-grade balance sheet and achievement of several important milestones in our growth strategy enable us to invest aggressively to accelerate our electrified future while supporting the return excess free cash flow to shareholders, aligned with our long-term capital allocation strategy,” GM Chief Financial Officer Paul Jacobson said in a statement. The actions come as GM continues to grapple with supply chain problems, including a shortage of semiconductor chips and declining investor confidence. The company’s stock is down about 34% this year. It closed Thursday at $38.72 per share. The company’s market capitalization is $56.2 billion, up from $90 billion at the start of the year.

title: “Gm To Reinstate Quarterly Dividend Raises Share Buybacks To 5 Billion Klmat” ShowToc: true date: “2022-11-29” author: “Lucy Wilford”

Patrick T. Fallon | AFP | Getty Images DETROIT – General Motors is reinstating a quarterly cash dividend for shareholders that was cut to preserve capital in the early days of the coronavirus pandemic, though it will be at a much lower rate than when it was suspended. The Detroit automaker on Friday said GM’s board of directors approved a dividend distribution on the company’s outstanding common stock at a rate of 9 cents per share. That’s down about 76% from 38 cents a share when the dividend was suspended in April 2020. GM also announced that it will continue and increase its share repurchase opportunities to $5 billion of common stock, up from $3.3 billion previously remaining under the program. He did not set a timetable for the buybacks. Investors are wondering when GM’s quarterly dividend will be reinstated, especially after rival GM’s October 2021 reinstatement of a 10-cent-per-share quarterly dividend for Ford Motor shareholders. GM CEO Mary Barra said earlier this year that the company would “examine all opportunities to return excess capital to shareholders” but that the priority was to accelerate its transformation plans that include a $35 billion investment in electric and autonomous vehicles by 2025. In a statement on Friday, Barra said progress on “key strategic initiatives has improved our visibility and strengthened confidence in our ability to fund growth while also returning capital to shareholders.” The company’s board felt the 9 cents was an “appropriate” dividend as the company continues to invest in its transformation plan, according to GM spokesman Jim Cain. According to the company, the first dividend will be paid on September 15 to shareholders at the close of business on August 31. “GM’s consistently strong earnings, margins and cash flow, investment-grade balance sheet and achievement of several important milestones in our growth strategy enable us to invest aggressively to accelerate our electrified future while supporting the return excess free cash flow to shareholders, aligned with our long-term capital allocation strategy,” GM Chief Financial Officer Paul Jacobson said in a statement. The actions come as GM continues to grapple with supply chain problems, including a shortage of semiconductor chips and declining investor confidence. The company’s stock is down about 34% this year. It closed Thursday at $38.72 per share. The company’s market capitalization is $56.2 billion, up from $90 billion at the start of the year.

title: “Gm To Reinstate Quarterly Dividend Raises Share Buybacks To 5 Billion Klmat” ShowToc: true date: “2022-11-30” author: “Dorothy Burkhart”

Patrick T. Fallon | AFP | Getty Images DETROIT – General Motors is reinstating a quarterly cash dividend for shareholders that was cut to preserve capital in the early days of the coronavirus pandemic, though it will be at a much lower rate than when it was suspended. The Detroit automaker on Friday said GM’s board of directors approved a dividend distribution on the company’s outstanding common stock at a rate of 9 cents per share. That’s down about 76% from 38 cents a share when the dividend was suspended in April 2020. GM also announced that it will continue and increase its share repurchase opportunities to $5 billion of common stock, up from $3.3 billion previously remaining under the program. He did not set a timetable for the buybacks. Investors are wondering when GM’s quarterly dividend will be reinstated, especially after rival GM’s October 2021 reinstatement of a 10-cent-per-share quarterly dividend for Ford Motor shareholders. GM CEO Mary Barra said earlier this year that the company would “examine all opportunities to return excess capital to shareholders” but that the priority was to accelerate its transformation plans that include a $35 billion investment in electric and autonomous vehicles by 2025. In a statement on Friday, Barra said progress on “key strategic initiatives has improved our visibility and strengthened confidence in our ability to fund growth while also returning capital to shareholders.” The company’s board felt the 9 cents was an “appropriate” dividend as the company continues to invest in its transformation plan, according to GM spokesman Jim Cain. According to the company, the first dividend will be paid on September 15 to shareholders at the close of business on August 31. “GM’s consistently strong earnings, margins and cash flow, investment-grade balance sheet and achievement of several important milestones in our growth strategy enable us to invest aggressively to accelerate our electrified future while supporting the return excess free cash flow to shareholders, aligned with our long-term capital allocation strategy,” GM Chief Financial Officer Paul Jacobson said in a statement. The actions come as GM continues to grapple with supply chain problems, including a shortage of semiconductor chips and declining investor confidence. The company’s stock is down about 34% this year. It closed Thursday at $38.72 per share. The company’s market capitalization is $56.2 billion, up from $90 billion at the start of the year.

title: “Gm To Reinstate Quarterly Dividend Raises Share Buybacks To 5 Billion Klmat” ShowToc: true date: “2022-11-27” author: “Kevin Pruett”

Patrick T. Fallon | AFP | Getty Images DETROIT – General Motors is reinstating a quarterly cash dividend for shareholders that was cut to preserve capital in the early days of the coronavirus pandemic, though it will be at a much lower rate than when it was suspended. The Detroit automaker on Friday said GM’s board of directors approved a dividend distribution on the company’s outstanding common stock at a rate of 9 cents per share. That’s down about 76% from 38 cents a share when the dividend was suspended in April 2020. GM also announced that it will continue and increase its share repurchase opportunities to $5 billion of common stock, up from $3.3 billion previously remaining under the program. He did not set a timetable for the buybacks. Investors are wondering when GM’s quarterly dividend will be reinstated, especially after rival GM’s October 2021 reinstatement of a 10-cent-per-share quarterly dividend for Ford Motor shareholders. GM CEO Mary Barra said earlier this year that the company would “examine all opportunities to return excess capital to shareholders” but that the priority was to accelerate its transformation plans that include a $35 billion investment in electric and autonomous vehicles by 2025. In a statement on Friday, Barra said progress on “key strategic initiatives has improved our visibility and strengthened confidence in our ability to fund growth while also returning capital to shareholders.” The company’s board felt the 9 cents was an “appropriate” dividend as the company continues to invest in its transformation plan, according to GM spokesman Jim Cain. According to the company, the first dividend will be paid on September 15 to shareholders at the close of business on August 31. “GM’s consistently strong earnings, margins and cash flow, investment-grade balance sheet and achievement of several important milestones in our growth strategy enable us to invest aggressively to accelerate our electrified future while supporting the return excess free cash flow to shareholders, aligned with our long-term capital allocation strategy,” GM Chief Financial Officer Paul Jacobson said in a statement. The actions come as GM continues to grapple with supply chain problems, including a shortage of semiconductor chips and declining investor confidence. The company’s stock is down about 34% this year. It closed Thursday at $38.72 per share. The company’s market capitalization is $56.2 billion, up from $90 billion at the start of the year.