Shares of General Motors Co. GM slid 3.34% to $46.29 Friday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index SPX falling 1.71% to 6,013.13 and Dow Jones Industrial Average DJIA falling 1.69% to 43,428.02.
U.S. stock indexes drifted to a mixed finish after climbing in the morning but then running out of momentum. The S&P 500 finished the day an iota higher, less than 0.1%, but enough to break a four-day losing streak that had knocked it off its all-time high.
GM, Dividend and Buyback
· 2d
GM boosts investor payout with new buybacks, dividend hike
General Motors Sets 25% Dividend Boost, New $6 Billion Buyback
General Motors is raising its dividend by 25% and boosting its stock buyback program, as the automaker steps up returns to shareholders. GM on Wednesday said its board approved a new $6 billion share-repurchase authorization that includes a $2 billion accelerated buyback.
GM Stock Surges on Dividend Hike, $6B Buyback Plan
Key Takeaways Shares of General Motors are rising Wednesday after the automaker announced a new $6 billion stock buyback plan and raised its quarterly dividend.The automaker said it would lift its dividend to $0.
Stocks were lower Wednesday, giving up earlier gains, putting the S&P 500 on pace for a fifth straight day of losses.
Stocks have been under pressure in recent days due to lacklustre US economic data and worries about Mr Donald Trump’s policies. During a Cabinet meeting, the US president said he expects 25 per cent tariffs on the European Union. The Dow Jones Industrial Average finished down 0.4 per cent at 43,433.12.
EnerSys, Sonoco Products, World Kinect and General Motors have been highlighted in this Screen of The Week article.
GM jumped 6.7 percent after announcing a new $6 billion share repurchase authorization and lifting its quarterly divided by three cents a share. “We feel confident in our business plan, our balance sheet remains strong, and we will be agile if we need to respond to changes in public policy,” GM Chief Financial Officer Paul Jacobson.
Gains in Nvidia ahead of earnings helped lift the Nasdaq on Wednesday while the Dow retreated on White House talk of more tariffs, this time on the
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