GM: new forecasts and distributions to shareholders

(CercleFinance.com) - After withdrawing its third-quarter guidance due to the UAW strike, General Motors (GM) announces the reinstatement of its earnings guidance for 2023, expecting adjusted EPS of between $7.
20 and $7.70 and adjusted EBIT of between $11.7 and $12.7 billion.

In addition, it unveils an accelerated share repurchase (ASR) program for $10 billion (in addition to a remaining authorization for $1.4 billion), scheduled to end in the fourth quarter of 2024.

Finally, the Detroit-based automaker announces its intention to increase its quarterly dividend on its common stock by 33% from the scheduled payment in January 2024, to 12 cents per share.

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