Stellantis To Pay GM Nearly $1 Billion To Buy Back Shares Related To 2017 Opel Deal | Carscoops carscoops ⚠️
on its outstanding common stock at a rate of $0.09 per share. The first dividend will be paid on September 15.
“GM’s consistently strong earnings, margins and cash flow, our investment-grade balance sheet, and the achievement of several significantenables 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’s chief financial officer.
It also announced that it will resume “opportunistic share repurchases” and is expanding its existing repurchase program from $3.3 billion to $5 billion.“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,” she said.
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