US Stock Market Move | Announces repurchase of $6 billion worth of shares and an increase in dividends, General Motors Company (GM.US) jumped over 5%

On Wednesday, General Motors Company (GM.US) rose over 5%, to $49.03. In terms of news, the company announced on February 26 that its board of directors has approved an increase in the quarterly common stock dividend rate by $0.03 per share, effective from the next planned dividend. In addition, the board also approved a new $60 billion stock repurchase authorization. General Motors Company has entered into an accelerated stock repurchase (ASR) program to execute $20 billion of the stock repurchase authorization. The ASR program is expected to be completed in the second quarter of 2025.