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GM Plans $5 Billion Share Buyback, Averts Proxy Fight

Published

10 years ago

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March 9, 2015

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Reporter II

(AP Photo/David Goldman, File)

Joe White, REUTERS

DETROIT (Reuters)—General Motors Co. said Monday it would launch a new, $5 billion share buyback in an agreement with dissident investors, and put forward a more detailed plan for capital allocation that promises investors the potential for further cash returns.

GM said it had reached a deal with an investor group that averts a proxy fight over its balance sheet and governance. As part of the agreement, investor Harry Wilson will drop his effort to get a seat on GM’s board.

Wilson on Monday praised the company’s capital plan, which offers investors a more transparent view of GM’s cash investment proposals than previously disclosed.

GM also confirmed Monday it will boost its quarterly dividend to 36 cents a share from 30 cents previously. It had disclosed plans to raise its dividend last month.

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Oakland Post: Week of April 9 – 15, 2025

The printed Weekly Edition of the Oakland Post: Week of April 9 – 15, 2025

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April 12, 2025

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Oakland Post: Week of April 2 – 8, 2025

The printed Weekly Edition of the Oakland Post: Week of April 2 – 8, 2025

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Oakland Post: Week of March 28 – April 1, 2025

The printed Weekly Edition of the Oakland Post: Week of March 28 – April 1, 2025

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March 28, 2025

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Robert Harris (left) is a retired attorney at PG&E and former legal counsel for NAACP. Richard Fuentes is co-owner of FLUID510 and chair of the Political Action Committee, American Federation of State, County, and Municipal Employees (AFSCME) Council 57. Courtesy photos.

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