General Motors has declared a fourth quarter 2019 dividend of 38 cents per share on the company’s outstanding shares of common stock.
The GM dividend is payable Thursday, December 19th, 2019 to all common stockholders of record at the close of business on Friday, December 6th, 2019.
On October 29th, GM announced Q3 2019 earnings of $2.3 billion in income on $35.5 billion in revenue. The results, which follow a UAW strike that lasted over a month, were overwhelmingly positive and beat most expectations of Wall Street analysts. Other highlights of the quarter earnings include:
- North America: $3.0 billion EBIT-adjusted vs. $2.8 billion in Q3 2018. Results were highlighted by strong HD pickup and crossover sales and cost actions. They were partially offset by the strike impact.
- International: $(0.1) billion EBIT-adjusted vs. $0.1 billion in Q3 2018. China equity income was $0.3 billion, down $0.2 billion, driven by lower wholesales, partially offset by favorable mix including from product launches.
- GM Financial: $0.7 billion EBT adjusted vs. $0.5 billion in Q3 2018 on revenue of $3.659 billion, a record. Performance was driven by consistent execution of the full captive strategy and portfolio growth.
- GM Cruise: $(0.3) billion EBIT-adjusted vs. $(0.2) billion in Q3 2018. GM says that the spend is “on plan as Cruise continues to make significant progress toward commercialization gated by safety and regulations.”
It’s worth noting, however, that the aforementioned UAW strike did not impact GM’s operations and financial performance much during the third quarter. Instead, the walkout is expected to have a greater impact on GM’s Q4 2019 financial results.