General Motors (GM) Declares Quarterly Dividend of $0.38

General Motors (NYSE:GM) (TSE:GMM.U) announced a quarterly dividend on Tuesday, October 30th, RTT News reports. Investors of record on Friday, December 7th will be given a dividend of 0.38 per share by the auto manufacturer on Thursday, December 20th. This represents a $1.52 annualized dividend and a yield of 4.53%.

General Motors has raised its dividend by an average of 8.2% annually over the last three years. General Motors has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect General Motors to earn $5.61 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 27.1%.

GM traded up $0.40 on Tuesday, hitting $33.53. 1,122,306 shares of the stock were exchanged, compared to its average volume of 15,793,718. General Motors has a 12 month low of $30.56 and a 12 month high of $45.52. The company has a quick ratio of 0.74, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $46.07 billion, a price-to-earnings ratio of 5.06, a P/E/G ratio of 0.67 and a beta of 1.55.

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of General Motors from $58.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Citigroup cut their price objective on shares of General Motors to $60.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Royal Bank of Canada boosted their target price on General Motors from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 10th. Zacks Investment Research downgraded General Motors from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 5th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $39.00 target price on shares of General Motors in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $46.64.

About General Motors

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Dividend History for General Motors (NYSE:GM)

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