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GM, citing ‘consistently strong earnings,’ to reinstate dividend, resume stock buybacks

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The Detroit News

General Motors Co. is reinstating its quarterly dividend for shareholders after suspending it in April 2020 in response to the coronavirus pandemic, the Detroit automaker said Friday. A dividend of 9 cents per share of the company’s common stock will be paid out on Sept. 15 to shareholders of record as of the close of business on Aug. 31. The automaker also said it will resume “opportunistic” stock buybacks. GM’s board of directors increased the capacity under the company’s existing buyback program to $5 billion of common stock. That’s up from the $3.3 billion that had remained available under…

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