GM suspends dividend and share buybacks as coronavirus hits sales [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
GM suspends dividend and share buybacks as coronavirus hits sales The GM logo stands at the company's plant in Sao Jose dos Campos, Brazil, on Jan. 22, 2019. ROOSEVELT CASSIO/Reuters The GM logo stands at the company's plant in Sao Jose dos Campos, Brazil, on Jan. 22, 2019. General Motors Co said on Monday the automaker has suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis that has severely hurt global automobile sales. Shares of GM were 1.4 per cent lower at $21.65 before the bell. “We continue to enhance our liquidity to help navigate the uncertainties in the global market created by this pandemic,” said GM Chief Financial Officer Dhivya Suryadevara. GM, which has been forced to shut some production in North America along with other car makers, had earlier said it has postponed work on at least half a dozen future models to conserve cash during the pandemic. GM as well as rivals Ford Motor Co and To
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