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General Motors Approves new $6 Billion Share Buyback Plan

June 11 (Reuters) - General Motors said on Tuesday it will buy back outstanding shares worth $6 billion as part of a new stock repurchase plan.

The board approval follows a $10 billion accelerated share repurchase announced by the automaker in November 2023. It had also raised its dividend by 33% to 12 cents per share in the first quarter.

The shares of the automaker was up 1% in premarket trading.

Reporting by Ananta Agarwal in Bengaluru; Editing by Arun Koyyur

Source: Reuters


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