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The Associated Press January 26, 2011, 1:46PM ET

General Motors declares quarterly dividend

General Motors says its board is declaring a quarterly dividend of about 64.7 cents per share on its Series B mandatory convertible junior preferred stock.

The dividend will total $64.7 million. It is payable March 1 to those who own stock as of Feb. 15.

The automaker sought bankruptcy protection in 2009 and accepted nearly $50 billion in government help. The new GM had an initial public offering of stock in November.

Its global sales grew 12 percent last year, and it turned a $4.2 billion profit in the first nine months of the year. Financial results for the final three months of 2010 aren't in yet, but more profit is expected.


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