GM has announced a fourth quarter 2023 dividend in the amount of $0.09 per share on each share of outstanding common GM stock. The Q4 GM dividend is payable December 14th, 2023 to all common shareholders of record as of the close of trading on December 1st, 2023.
GM declared a Q3 dividend of $0.09 per share in July, payable in September, while the Q2 dividend of $0.09 was announced in April, payable in June, and the Q1 dividend of $0.09 was announced in February, payable in March.
GM’s U.S. sales grew 21 percent during the third quarter of 2023, with sales at all four of GM’s U.S. brands (Buick, Cadillac, Chevrolet, and GMC) increasing. The Q3 figures were also the first official quarterly sales figures to include GM’s BrightDrop division, which sells the BrightDrop Zevo line of all-electric delivery vehicles.
GM sales grew to 674,336 units in the U.S., with retail sales up 16 percent and GM Envolve sales up 42 percent for the quarter. GM EV sales increased 28 percent compared to the second quarter of 2023.
GM is expected to release third quarter earnings figures later today. The report will be made amid the ongoing United Auto Workers (UAW) labor strike, which is now in its sixth week. GM is expected to report earnings of $1.88 per share.
GM will have a tough line to draw with the upcoming report. If the automaker manages to exceed Wall Street expectations, the UAW may use the report as further evidence for demanding more in contract negotiations with the automaker, justifying the union’s strike and potentially prolonging the negotiating process. On the other hand, if GM is too bearish in its projections, the report could end up scaring Wall Street and drop GM’s stock value even further. GM stock value dropped below $30 per share for the first time in three years earlier this month.
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