General Motors Company (GM) To Increase Dividend Yield By 20% Despite 26% Dip In Profit

General Motors Company (NYSE:GM) saw its fourth quarter earnings topple analyst’s estimates mostly driven by strong sales on high margins SUV’s as well as trucks in North America on record low fuel costs. During an interview on CNBC, Chief Financial Officer, Chuck Stevens, affirmed that the company is in the process of increasing its dividend yield by 20% from $0.30 a share to $0.36.

“Our planned increase in the dividend is very consistent with our stated objective, which is then to have a growing and sustained dividend underpinned by strong business performance. Announcing it today in conjunction with our strong 2014 performance as well as our expectation of better performance in 2015 including improved profitability in all four automotive regions is consistent with that objective,” said Mr. Stevens.

Source: Insider Monkey

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