General Motors is close to issuing its first dividend since discontinuing the practice in July 2008. According to GM President and former CFO Dan Ammann speaking to reporters before the 2014 North American Auto Show yesterday, investors are expecting a dividend.
“We’re closer than we have been given all of the actions that have been taken,” Ammann said in a Bloomberg Businessweek report.
The company is set to report its Q4 2013 earnings in February, when it will very likely post its 16th straight quarter of profit. The General has improved its cash flow and decreased the amount of preferred shares, while the U.S. Treasury has sold its remaining ownership stake in the automaker. In addition, GM has decreased its liability in the UAW retiree healthcare trust since Hayman Capital bought almost half of all of the shares last September.
GM’s incoming CEO Mary Barra confirmed plans to keep trucking ahead.
“We’re going to continue with the strong momentum that we have, and we’re going to stay focused on the customer and we’re going to stay focused on strong cars, trucks and crossovers”, she said.