US EditionGM initiates $10 billion buyback, boosts dividend and reinstates 2023 guidance after UAW strikes
- General Motors experienced a $1.1 billion decrease in pretax earnings due to a six-week strike by autoworkers, but expects to absorb the costs and raise its dividend.
- GM plans to increase its dividend by 33% to 12 cents per share and repurchase $10 billion of its stock shares.
- The company revised its full-year net income forecast to $9.1 billion to $9.7 billion and aims to generate more cash by cutting capital spending, including in electric vehicle development and its autonomous vehicle unit.
37 Articles
37 Articles
GM says strike cost $1.1B, but it can absorb rising labour costs as it raises dividend
General Motors says pretax earnings took a $1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend. The Detroit automaker on Wednesday reinstated its full-year earnings forecast that was withdraw...
GM says strike cost $1.1B, but it can absorb rising labor costs as it raises dividend
DETROIT (AP) — General Motors says pretax earnings took a $1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend.
GM says strike cost $1.1B, but it can absorb rising labor costs as it raises dividend
DETROIT (AP) — General Motors says pretax earnings took a $1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend.
GM says strike cost $1.1B, but it can absorb rising labor costs as it raises dividend
DETROIT (AP) — General Motors says pretax earnings took a $1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend.
GM says strike cost $1.1B, but it can absorb rising labor costs as it raises dividend
DETROIT (AP) — General Motors says pretax earnings took a $1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend.
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