General Motors said Tuesday its board approved a fresh repurchase authorization to buy back up to $6 billion worth of the automaker's common stock, a month after beating Wall Street estimates in the first quarter on strong demand for gas-powered vehicles.
Shares of the company, which has a market capitalization of nearly $54 billion, were up 1.8% in early trading. They have risen about 50% since GM announced the $10 billion stock buyback in late November. GET FOX BUSINESS ON THE GO BY CLICKING HERE It had raised its dividend by 33% to 12 cents per share in January. Reuters contributed to this report.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: