General Motors (GM) Gains After Reinstating Quarterly Dividend
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August 22, 2022 10:11 AM EDT
Morgan Stanley analyst Adam Jonas reiterated an Equalweight rating and $42.00 price target on General Motors (NYSE: GM).
The analyst comments "GMs stock reacted positively to the announcement of restoring a dividend and resuming buybacks, driving one of the stocks strongest single-day... More
August 19, 2022 8:01 AM EDT
General Motors Co. (NYSE: GM) announced today that its Board of Directors has authorized the reinstatement of a quarterly cash dividend on the company's outstanding common stock at a rate of $0.09 per share. The first dividend will be paid on Sept. 15, 2022, to shareholders of record as of the close of business on Aug. 31, 2022.
GM also announced it will resume opportunistic share repurchases. This week, the Board increased the capacity under the company's existing repurchase program to $5.0 billion of common stock, up from the $3.3 billion previously remaining under the program.
"GM is... More
