News Summary: GM dividend, share buyback possible

AP News
Posted: Jun 06, 2013 2:46 PM

SHAREHOLDER REWARDS: General Motors CEO Dan Akerson said Thursday that GM could buy back more shares from the government or offer a dividend to shareholders for the first time since 2008.

THE TIMING: Akerson said a stock buyback could come later this year or early next year as the government exits its ownership stake in GM. He gave no time frame for the dividend. The U.S. Treasury is about to reduce its GM stake to about 14 percent.

THE CAVEAT: Akerson said GM's first priority is to invest in new vehicles and equipment to keep the company competitive.