GM: new $6bn share buyback program

(CercleFinance.com) - On Tuesday General Motors announced the launch of a new $6bn share repurchase program after having already increased its dividend by 33% in Q1.


In a statement, GM said that investments in its brands and product portfolio in recent years, as well as operational discipline, had paid off in increased sales, margins and cash flow.

We remain very focused on the profitability of our ICE business and are improving the profitability of our EV business, while deploying our capital effectively, its CFO said, enabling us to return cash to shareholders, he added.

The owner of the Chevrolet, Buick, GMC and Cadillac brands points out that last November it launched a ten billion dollar accelerated share buyback programme and that it still had a $1.4bn envelope left over from a previous share acquisition plan.


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