LONDON (ShareCast) - (Sharecast News) - Shares in GM jumped on Wednesday after the American auto giant unveiled plans to raise its dividend and launch a new $6bn share repurchase programme.
The company said its next planned quarterly dividend - expected to be declared in April 2025 - would be $0.15 a share, representing a 3 cents (25%) increase from its previous payout.



Meanwhile, the new $6bn buyback plan - which kicks off with $2bn of repurchases in the first half of 2025 - will take the total amount of buybacks since the end of 2023 to $22bn.

Shares were up more than 4% at $48.60 by 0742 ET, ahead of the opening bell on Wall Street.

"The GM team's execution continues to be strong across all three pillars of our capital allocation strategy, which are to reinvest in the business for profitable growth, maintain a strong investment grade balance sheet, and return capital to our shareholders," said Mary Barra, chair and chief executive, in a statement.

"We are growing our business thanks to our broad, deep, and compelling portfolio of ICE vehicles and EVs. At the same time, we are investing our capital in a disciplined and consistent way to continue generating strong margins and cash flows."

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