GM's repurchase program has no set deadline, but the firm aims to finish the initial phase of the buyback, totaling $2 billion, by the end of the second quarter. GM has also chosen to raise its quarterly dividend to $0.15 per share - a rise of three cents.
According to Bloomberg, this isn't GM's initial significant share buyback. In 2021, the company's shares in circulation totaled 1.45 billion, currently it is below 1 billion. In June 2024, General Motors performed a share buyback of $6 billion, following a preceding buyback of $10 billion (the program concluded in November 2023).
Overall, GM has authorized $37.7 billion in stock repurchases since 2015, according to Bloomberg's calculations. The agency notes that these actions have bolstered the firm's stock price despite several challenges in its business approach.
source: bloomberg.com
According to Bloomberg, this isn't GM's initial significant share buyback. In 2021, the company's shares in circulation totaled 1.45 billion, currently it is below 1 billion. In June 2024, General Motors performed a share buyback of $6 billion, following a preceding buyback of $10 billion (the program concluded in November 2023).
Overall, GM has authorized $37.7 billion in stock repurchases since 2015, according to Bloomberg's calculations. The agency notes that these actions have bolstered the firm's stock price despite several challenges in its business approach.
source: bloomberg.com