GM Suspends Dividend and Buybacks in Pivot to Cash-Piling Mode [Yahoo! Finance News]
General Motors Company (GM)
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Source: Yahoo! Finance News
) -- General Motors Co. suspended its dividend and the share-buyback program activist investors fought for over the last half decade as the largest U.S. automaker seeks to preserve cash in the midst of the pandemic shutting down much of the global car industry.The measures were a condition for GM to amend a credit agreement with banks so that its $3.6 billion revolver now matures in April 2022, extending it by a year. The moves announced Monday follow other cash-preservation measures taken at the beginning of this month, when the company deferred 20% of salaried workers’ pay, cut top executives’ compensation and put 6,500 employees on leave.Chief Executive Officer Mary Barra first announced a major buyback in 2015 after fending off an activist campaign by a former Treasury Department official who was representing several hedge funds. She expanded the program to as much as $14 billion two years later in the midst of another battle with billionaire hedge fund manager David Einhorn.Agree
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- 10/21/25 - Beat
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Sec Filings
- 11/12/25 - Form 144
- 11/10/25 - Form SCHEDULE
- 10/30/25 - Form 4
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