General Motors (GM) will start paying a 9 cent per share quarterly dividend in August 2022. This is the first dividend since 2020 when GM suspended its quarterly dividend in April of 2020 in response to uncertainty driven by the global coronavirus pandemic. The car maker last raised its quarterly dividend by 5.6 percent to $0.38 per share in 2020.
The first dividend will be paid on Sept. 15, 2022, to shareholders of record as of the close of business on Aug. 31, 2022. The new dividend yield for GM is 0.9% at a stock price of $38.55.
Previously General Motors reinstated a quarterly dividend in 2014 and had last hiked the dividend back in 2016. The company's annual dividend payment was approximately $2.2 billion prior to the dividend suspension in 2020.
General Motors Company is a manufacturer of cars, trucks, crossovers and automobile parts worldwide. The company also provide automotive financing services through General Motors Financial Company, Inc. (GM Financial). General Motors brands include Buick, Cadillac, Chevrolet and GMC. The company also has equity ownership stakes in entities that meet the demands of customers in other countries, primarily in China, with vehicles developed, manufactured and/or marketed under the Baojun, Buick, Cadillac, Chevrolet, Jiefang and Wuling brands. GM was incorporated in the state of Delaware on July 10, 2009. General Motors Company began its operations when it acquired substantially all of the assets of Motors Liquidation Company (formerly, General Motors Corporation) in July 2009. GM’s common stock began trading on the New York Stock Exchange (NYSE) on November 17, 2010.