General Motors Suspends Dividends, Ceases Stock Buybacks, And Hoards Cash

General Motors said Monday it has suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis.

The company also said it had extended a three-year revolving credit agreement for $3.6 billion to April 2022. 

GM last paid a quarterly dividend on March 5 of 38 cents a share.

MDarringer - 4/27/2020 9:53:34 AM

+2 Boost

GM is in deep caca. They have a product implosion. With the exception of the Corvette, there's nothing anyone wants at Chevy, Buick, Cadillac, or GMC without bags of cash on the hood. Mary Barra needs to resign. GM is very close to being bought out by someone and I predict it will be a swift move when it happens. I'm thinking Geely.

valhallakey - 4/28/2020 12:18:35 AM

+1 Boost

They should get rid of the brand concept except Cadillac and one other. Just call the other band GM and whittle the models down to the names of past glories, but build cars worthy of the names. You could have a Chevrolet Corvette next to a Pontiac GTO next to a Buick Rivera in the same "GM" dealer.

PUGPROUD - 4/27/2020 10:04:29 AM

+2 Boost

Survival mode....may be too late.

MDarringer - 4/27/2020 10:35:07 AM

+2 Boost

It definitely is. The strength of Buick is largely gone. GM is savable, but not with Mary Barra in command. The way forward has two brands: Chevrolet and Cadillac. Buick is no longer a predictable volume. GMC is redundant.

skytop - 4/27/2020 1:01:09 PM

+1 Boost

GM sees the writing on the wall and in desperation has gone into salvage mode.

MDarringer - 4/27/2020 1:13:52 PM

+1 Boost

How soon do you think Mary Barra will resign?
How soon do you think they will be bought out?

PUGPROUD - 4/27/2020 4:48:17 PM

+1 Boost

The end is near!