GM: new share buyback program worth six billion dollars

(CercleFinance.com) - General Motors announced on Tuesday the launch of a new six-billion-dollar share repurchase program, after having already increased its dividend by 33% in the first quarter.


In a press release, GM explains that the investments made in its brands and product portfolio in recent years, as well as its operational discipline, have paid off, enabling it to increase 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 efficiently", explains CFO Paul Jacobson.

"This allows us to return cash to shareholders", he emphasizes.

The owner of the Chevrolet, Buick, GMC and Cadillac e-brands recalls that last November it launched a $10 billion accelerated share buyback program, and that it still had $1.4 billion remaining under a previous share purchase plan.

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