General Motors ups dividend, share buyback on strong outlook

By The Associated Press | Posted - Jan. 13, 2016 at 9:21 a.m.


1 photo

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

DETROIT (AP) — General Motors says it will add $4 billion to its stock buyback program and raise its quarterly dividend 6 percent to 38 cents per share.

The dividend increase starts in the first quarter, and the share buybacks will run through 2017.

GM shares rose 3 percent in morning trading Wednesday.

Company executives also announced that GM expects to make an adjusted profit of $5.25 to $5.75 per share this year. That's up from previous guidance of $5 to $5.50 per share. GM also expects improved adjusted earnings before taxes.

The company also says it will post online its entire inventory of 30,000 company-owned used cars online. The inventory includes cars coming off leases and from rental car companies and company employees.

All will have factory warranties and can be ordered online and purchased through dealerships.

GM shares rose 73 cents, or 2.4 percent, to $31.03 in midday trading.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Photos

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast