GM Announces First Dividend In Nearly Six Years

GM has announced a dividend of $US0.30 a share.

It’s the automaker’s first dividend since May 2008.

Over the weekend, GM execs hinted the dividend was coming but did not specify a timetable.

In 2009, the U.S. government took over management of the firm as it faced bankruptcy. It re-floated its shares in 2010 with the largest IPO in U.S. history.

Last month, the Treasury department sold its last share of GM equity. U.S. taxpayers took a $US10.5 billion loss.

Shares are up 3% in after-hours trading.

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