Bloomberg News

General Motors to Pay Second 30-Cent Quarterly Dividend (1)

April 08, 2014

General Motors Co. (GM:US) will pay a 30-cent quarterly dividend to common-stock holders in June. It will be the largest U.S. automaker’s second such payout following a suspension in 2008 that preceded its bankruptcy.

The automaker, which emerged from a U.S. government-backed bankruptcy in 2009, in January declared its first dividend since its reorganization.

The first payout announcement coincided with the appointment of Chief Executive Officer Mary Barra, the first woman to lead a global automaker, and investor optimism as the U.S. Treasury sold its stake in the company.

The company, based in Detroit, has been criticized recently about years of delay before initiating a recall of 2.59 million small cars to replace potentially faulty ignition switches tied to 13 deaths. Barra has already testified before U.S. House and Senate panels about the issue and may be asked to do so again.

GM’s latest dividend is payable June 26 to stockholders of record as of June 10.

Shares in the company rose (GM:US) 1.2 percent to $34.53 at the close in New York and have lost 16 percent this year.

To contact the reporter on this story: Niamh Ring in New York at nring@bloomberg.net

To contact the editors responsible for this story: Jamie Butters at jbutters@bloomberg.net John Lear


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