Price increases - GM increases dividend and starts huge share buyback program
General Motors (GM) has announced that it will increase its quarterly dividend by a quarter to 15 cents per share. The auto giant is also launching a share buyback program worth six billion dollars.
The US car manufacturer GM plans to spend six billion dollars (5.75 billion euros) on share buybacks this year.
According to CNBC , GM will spend two billion dollars on the buyback program in the second quarter. GM shares rose significantly after the plans were announced. At around 1 p.m. they were up five percent. This is good news for GM shareholders, as the share price had fallen by twelve percent this year.
GM is optimistic about the current year. According to CNBC, the forecast for net profit in 2025 is between $11.2 billion and $12.5 billion.
GM employs around 162,000 people worldwide. The company's headquarters are in Detroit, Michigan. GM's market value is over 46 billion dollars.
In the past, Opel, Vauxhall, Hummer and Saab were also temporarily owned by GM.
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