General Motors approves new $6 billion share buyback plan

By Thomson Reuters Jun 11, 2024 | 6:27 AM

(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)