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Posts Tagged ‘GM dividend’

Ford Expects Record Profits; GM Sees Own Earnings Growth

Makers increase returns to shareholders; GM boosts stock buyback program.

by on Jan.13, 2016

Ford CEO Mark Fields showing off a new piece of technology at CES last week.

Investors take notice: while the stock market hasn’t been kind to the auto industry in recent weeks – or just about anyone else, for that matter – Detroit’s two largest carmakers are making some upbeat projections for 2016 that could make nervous shareholders happy.

Ford Motor Co. now expects to close the books on 2015 with a record pre-tax profit, with 2016 numbers to be “equal to or higher.” And GM is boosting its own earnings outlook for 2016. Both companies now plan to up their cash payouts to shareholders, while GM is expanding its ongoing stock buyback program.


“This pattern of strong returns gives us a great platform to build on as we enter the year with a focus on strengthening our core business and engaging aggressively in emerging opportunities through Ford Smart Mobility,” said Ford CEO Mark Fields, in a statement detailing Ford’s forecast.


GM Forecasts Profits to Rise in 2014

Maker credits new vehicles and general growth in global auto sales.

by on Jan.15, 2014

GM President Dan Ammann during the unveiling of the new Corvette Z06 on Monday.

With a new management team today taking office, its first dividend planned in nearly six year, and its stock already on the rise, General Motors has yet more news likely to make investors happy, the Detroit maker forecasting that its earnings are likely to rise “modestly” in 2014.

The maker credits a variety of factors that include an improving outlook for the overall global auto industry – but primarily due to a wave of its own new products that it hopes will yield increased sales and market share in key markets.

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“We continue to perform well in the two most important markets in the world, the U.S. and China,” said Mary Barra, who took over as GM’s new CEO today. “We’re taking advantage of our strength in these countries to restructure and make the investments necessary to grow profitably in other parts of the world.”


GM Names New CFO, Restores Dividend for 1st Time Since 2008

Moves come as Mary Barra set to become maker’s first female CEO.

by on Jan.15, 2014

New GM CFO Chuck Stevens.

General Motors has named Chuck Stevens as its new chief financial officer, replacing current CFO Dan Ammann, who became the Detroit maker’s new president later this week as part of a broad management shift that sees Mary Barra become the new chief executive officer.

The move was approved by the GM board of directors which also restored the maker’s divided for the first time since July 2008, at a time when it was spiraling towards bankruptcy. Stockholders will receive a 30-cent dividend per share.

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The announcements come just weeks before GM is expected to report its 16th straight quarterly profits, a string that began soon after its emergence from Chapter 11 protection with the help of a nearly $50 billion federal bailout. The U.S. Treasury last month sold off the last of its holdings in the maker – at a final loss of about $10 billion.


GM May Buy Back More Stock, Revive Dividend

“We’re getting stronger,” CEO Akerson declares.

by on Jun.07, 2013

GM's headquarters at the Detroit Renaissance Center.

General Motors investors have had a lot to celebrate in recent weeks watching the maker’s shares surge, the stock rejoining the influential S&P 500 – and now, with Chairman and CEO Dan Akerson suggesting the maker might be ready to restore the GM dividend for the first time since 2008.

Akerson also is weighing the possibility of buying back more GM shares, a move that could further drive up a stock that has nearly doubled since hitting a low point last July.

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But, “First and foremost we must continue to invest in this company so we don’t lose the competitive edge that we have today,” Akerson told stockholders meeting in Detroit, an event where he declared the company’s bailout and revival a success.


Market Share, Margins Expected to Rise, GM Takes Another Step Towards Fully Restoring Dividend

Company declares dividend while CFO says new vehicles will drive up profits.

by on Jan.15, 2013

GM Chief Financial Officer Dan Ammann said the company expects profits to increase because of its new products.

This story has been revised to reflect an earlier GM preferred stock dividend payment.

General Motors will pay a dividend on its preferred stock, it announced Tuesday afternoon. The decision appears to have been backed up by GM’s anticipation of its 12th quarterly profit in a row – as well as the expectation that the maker will be able to drive up sales, margins and profits in the coming year.

The news comes less than a week after Ford Motor Co. revealed plans to double its own dividend on common stock.

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“Our portfolio of new, world-class vehicles puts us on a strong footing to grow profitably,” said Dan Ammann, GM senior vice president and chief financial officer, who addressed an industry conference in Detroit as the announcement of the new dividend payment was released.