General Motors' quarterly dividend is back
DETROIT (AP) - General Motors Co. says it will resume paying a quarterly dividend, its first since the height of the financial crisis in 2008
The U.S. automaker's CEO Dan Akerson had hinted that a dividend may be coming and the company confirmed the move Tuesday. General Motors says its dividend of 30 cents per share is payable March 28 to stockholders of record as of March 18.
The Detroit-based company says investors should share in the company's success and that the dividend is a signal of confidence for a profitable future.
Shares of GM jumped 3 percent in after-hours trading to $41.28.
Competitor Ford Motor Co. halted its dividend payment in 2006 and resumed it in 2012.