MW GM's stock jumps 4.2% after auto giant raises dividend, unveils $6 billion share buyback
General Motors Co.'s stock jumped 4.2% early Wednesday, after the auto giant said its board has approved a 3 cent-per-share increase in its quarterly dividend, as well as new $6 billion share buyback authorization.
The new dividend will kick in with the next dividend announcement likely to come in April, while the company has entered a $2 billion accelerated share buyback with a group of banks.
The news is part of GM's $(GM)$ capital spending plan for 2025, which is expected to range from $10 billion to $11 billion, including investments in the company's battery cell manufacturing joint ventures. Spending on R&D is expected to top $8 billion.
The stock has gained 17.4% in the last 12 months, while the S&P 500 SPX has gained 17.5%.
-Ciara Linnane
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 26, 2025 06:39 ET (11:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.