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GM to reinstate quarterly dividend, ups share buybacks to $5 billion

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Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022.

Patrick T. Fallon | AFP | Getty Images

DETROIT – General Motors is reinstating a quarterly cash dividend for shareholders that was cut to preserve funds during the early days of the coronavirus pandemic, although it will be at a much lower rate than when it was suspended.

The Detroit automaker on Friday said the GM board of directors authorized a dividend on the company’s outstanding common stock at a rate of 9 cents per share. That’s a roughly 76% reduction from the 38 cents per share when the dividend was suspended in April…



Source cnbc.com

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