General Motors has announced a $6 billion share repurchase, adding to its momentum in 2024. This follows a $10 billion share buyback authorization from last year. The Detroit automaker's shares rose 1.4% to $48.21 on Tuesday. GM's shares have seen a 34% increase since the beginning of the year.
In addition to the share repurchase, GM has raised its dividend to 12 cents per share from 9 cents per share. The company also disclosed an $850 million investment in its Cruise autonomous vehicle unit to support operational cash needs until a long-term capital strategy is established.
