General Motors Re-Initiates Quarterly Dividend; Will Yield Around 3% (GM)
After the closing bell on Tuesday, General Motors (GM) announced that it is initiating a dividend – the company’s first dividend since it emerged from bankruptcy.
General Motors has declared a quarterly dividend of 30 cents, which is payable on March 28 to all shareholders on record as of March 18. The stock goes ex-dividend on March 14. On an annualized basis, GM will be paying $1.20 – a 3% yield based on the company’s closing price on Tuesday.
General Motors suspended its dividend in 2008 during the financial crisis, and later filed for Chapter 11 in 2009.
GM shares were up 1.11%, or 44 cents, at market close on Tuesday, but were climbing as much as 3% higher in after-hours trading. The company’s stock is down 3.35% this year.
The Bottom Line
Shares of General Motors (GM) have a yield of 3% based on Tuesday’s closing price of $40.02 and the company’s new annualized dividend of $1.20.
General Motors (GM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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