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 suspended its quarterly dividend in April of 2020 in response to uncertainty caused by the global coronavirus pandemic. While some uncertainty still exists, AutoInformed thinks that the ongoing successes of the Biden Administration’s public health and employment policies – particularly the passage of the Stop Inflation Recovery Act of 2022 – are reasons for optimism. (AutoInformed: Biden Recovery: Transportation Jobs Equal Pre-Pandemic; Biden Administration Cuts Republican Budget Deficit by 66%; President Biden Targets 50% Electric Vehicle Sales in 2030)
“GM is investing more than $35 billion through 2025 to advance our growth plan, including rapidly expanding our electric vehicle portfolio and creating a domestic battery manufacturing infrastructure,” said Mary Barra, GM Chair and CEO. “Progress on these key strategic initiatives has improved our visibility and strengthened confidence in our capacity to fund growth while also returning capital to shareholders.”
It is ironic that the Democrats have become protective of big business as the Republicans sink further into the quicksand of enabling the beleaguered Lord of Mar-a-Lardo and Trump’s demonstrable false ‘Stop the Steal’ actions with its resulting violence, lies and ongoing attempts to overthrow US democracy with numerous candidates and state policy mechanisms to rig future elections and disenfranchise voters.
GM also announced it will resume what it calls “opportunistic share repurchases.” This week, the GM 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’s consistently strong earnings, margins and cash flow, our investment-grade balance sheet, and the achievement of several significant milestones in our growth strategy enables us to invest aggressively to accelerate our all-electric future while also supporting the return of excess free cash flow to shareholders, aligned with our long-term capital allocation strategy,” said Paul Jacobson, GM chief financial officer.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Covid Recovery: GM Stock Dividend Returns
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 suspended its quarterly dividend in April of 2020 in response to uncertainty caused by the global coronavirus pandemic. While some uncertainty still exists, AutoInformed thinks that the ongoing successes of the Biden Administration’s public health and employment policies – particularly the passage of the Stop Inflation Recovery Act of 2022 – are reasons for optimism. (AutoInformed: Biden Recovery: Transportation Jobs Equal Pre-Pandemic; Biden Administration Cuts Republican Budget Deficit by 66%; President Biden Targets 50% Electric Vehicle Sales in 2030)
“GM is investing more than $35 billion through 2025 to advance our growth plan, including rapidly expanding our electric vehicle portfolio and creating a domestic battery manufacturing infrastructure,” said Mary Barra, GM Chair and CEO. “Progress on these key strategic initiatives has improved our visibility and strengthened confidence in our capacity to fund growth while also returning capital to shareholders.”
It is ironic that the Democrats have become protective of big business as the Republicans sink further into the quicksand of enabling the beleaguered Lord of Mar-a-Lardo and Trump’s demonstrable false ‘Stop the Steal’ actions with its resulting violence, lies and ongoing attempts to overthrow US democracy with numerous candidates and state policy mechanisms to rig future elections and disenfranchise voters.
GM also announced it will resume what it calls “opportunistic share repurchases.” This week, the GM 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’s consistently strong earnings, margins and cash flow, our investment-grade balance sheet, and the achievement of several significant milestones in our growth strategy enables us to invest aggressively to accelerate our all-electric future while also supporting the return of excess free cash flow to shareholders, aligned with our long-term capital allocation strategy,” said Paul Jacobson, GM chief financial officer.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.