General Motors ups dividend, share buyback on strong outlook

FILE - This April 21, 2009, file photo shows General Motors world headquarters in Detroit. A federal bankruptcy judge ruled Wednesday, April 15, 2015, that General Motors is shielded from death and injury claims potentially totaling billions of dollars tied to defective ignition switches in certain GM small cars. (AP Photo/Paul Sancya, File)
(AP Photo/Paul Sancya, File)

DETROIT (AP) – General Motors says it will add $4 billion to its stock buyback program and raise its quarterly dividend 6 percent to 38 cents per share.

The dividend increase starts in the first quarter, and the share buybacks will run through 2017.

Company executives also announced Wednesday that GM expects to make an adjusted profit of $5.25 to $5.75 per share this year. That’s up from previous guidance of $5 to $5.50 per share. GM also expects improved adjusted earnings before taxes.

The company also says it will post online its entire inventory of 30,000 company-owned used cars. The inventory includes cars coming off leases and from rental car companies and company employees.

All will have factory warranties and can be ordered online and purchased through dealerships.

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s