Pursuits
GM, Ford Boost Shareholder Payouts in Sign of Detroit’s Optimism
- Buyback from GM and Ford dividend sweetener follow record year
- Cheap credit, demand for SUVs won’t die, analyst says
GM to Buy Back $5B Worth of Shares
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2017 has been touted in Detroit as the year that’ll mark the end to a nearly decade-long boom in U.S. auto sales. And maybe it will. But there’s little sign of that right now.
One after another this week, the world’s biggest carmakers signaled they don’t see an end to their prosperity anytime soon. General Motors Co. on Tuesday projected another year of profit growth and heaped a $5 billion share buyback plan on top of the $9 billion it started repurchasing in 2015. Hours later, Ford Motor Co. added $200 million cash to its regular first-quarter dividend.