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The General Motors Company Has Announced That They Will Be Returning Capital To Their Shareholders

BusinessThe General Motors Company Has Announced That They Will Be Returning Capital To Their Shareholders

General Motors Company (NYSE: GM) made an announcement today stating that its Board of Directors has approved the reintroduction of a quarterly cash dividend on the company’s outstanding common stock at a rate of $0.09 per share. The dividend will be paid out beginning in the first quarter of 2019. Shareholders who are on record as of the close of business on August 31, 2022 will be eligible to receive the first dividend payment on September 15, 2022.

GM also made an announcement that it would begin buying back its own shares at advantageous times. This week, the Board of Directors of the firm expanded the capacity under the current buyback programme of the company to $5.0 billion of common stock, which is an increase over the prior remaining capacity of $3.3 billion under the programme.

According to Mary Barra, Chair and CEO of GM, “GM is spending more than $35 billion through 2025 to drive our development strategy, including significantly growing our electric vehicle line and establishing a domestic battery manufacturing infrastructure.” “The progress that has been made on these major strategic goals has increased our visibility and boosted our confidence in our capabilities to finance expansion while simultaneously returning cash to shareholders.”

The achievement of these milestones enables GM to invest aggressively to accelerate the company’s transition to an all-electric future.

Because of the unpredictability caused by the widespread coronavirus epidemic, General Motors decided to stop its quarterly dividend in April of 2020.

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