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GM Reinstates Dividend, Share Buybacks After Two-Year Hiatus
- Automaker to pay 9 cents a share, down from 38-cent dividend
- CEO Barra cites ability to fund growth while returning capital
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General Motors Co. is reinstating its dividend -- at a sharply reduced level -- and resuming share buybacks more than two years after they were suspended to preserve cash in the early days of the pandemic.
The Detroit automaker will pay a quarterly dividend of 9 cents a share beginning Sept. 15, according to a statement Friday. GM had halted its 38-cent payout in April 2020. The company is also restarting its buyback program, which will be expanded to $5 billion from the $3.3 billion remaining under the prior plan.