General Motors’ board of directors has authorised the re-distribution of quarterly cash dividends on the company’s common stock at a price of $0.09 per share.
The first dividend will be paid on September 15th to registered shareholders, with effect from the close of business on August 31st. In response to the uncertainty created by the Corona pandemic, the company discontinued its quarterly dividend in April 2020.
According to Paul Jacobson, GM’s chief financial officer, among other things, sustained profitability and a successful growth plan have enabled the company to accelerate our all-electric future while also returning excess cash flow to shareholders.
GM announced that it will continue to buy back shares whenever the opportunity arises. The Board of Directors increased the company’s capital under an existing repurchase programme to $5 billion in common shares, up from $3. 3 billion before.
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General Motors has issued a quarterly dividend for the first time in two years.
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