DETROIT - General Motors Co. (NYSE: GM) has announced a quarterly cash dividend of $0.12 per share for the second quarter of 2024. The dividend is scheduled to be paid on June 20, 2024, to shareholders of record by the close of trading on June 7, 2024.
This declaration reflects the company's ongoing commitment to delivering value to its shareholders. General Motors, a major player in the automotive industry, is steering towards an all-electric future, underpinned by its Ultium battery platform. The platform is expected to be the foundation for a range of vehicles from mass-market models to high-performance units.
General Motors and its various entities, including subsidiaries and joint ventures, market a diverse lineup of vehicles globally under renowned brands such as Chevrolet, Buick, GMC, Cadillac, Baojun, and Wuling. Additionally, the company owns OnStar, which provides vehicle safety services and connected vehicle technology.
The information regarding the dividend declaration is based on a press release statement from General Motors Company (NYSE:GM).
InvestingPro Insights
General Motors Co. has been making headlines with its dividend announcement, but what does the financial data say about the company's performance and value to shareholders? With a market capitalization of approximately $49.95 billion and a strikingly low P/E ratio of 5.92, General Motors stands out in the market.
The adjusted P/E ratio for the last twelve months as of Q4 2023 further dips to an attractive 4.96, indicating a potentially undervalued stock in comparison to its earnings.
Investors looking for growth at a reasonable price might be interested in the company's PEG ratio, which stands at 0.25 for the same period, suggesting that the stock could be a bargain given its earnings growth trajectory.
Furthermore, the company's commitment to shareholder value is not only reflected in its dividend announcement but also in its aggressive share buybacks, a strategy often seen as a sign of management's confidence in the company's future.
For those considering an investment in General Motors, it's worth noting that the company is a prominent player in the Automobiles industry and has shown a strong return over the last three months with a price total return of 20.32%. In addition, the InvestingPro platform lists 11 additional InvestingPro Tips for General Motors, which could provide further insights into the company's performance and potential. Interested investors can explore these tips and more detailed metrics by visiting https://www.investing.com/pro/GM. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.