GM board approves another $6 billion share repurchase as the automaker gains momentum

The board of General Motors approved another $6 billion share repurchase as the Detroit automaker continues to build momentum in 2024. The announcement Tuesday follows a $10 billion share buyback authorization in November of last year. Shares in the Detroit automaker rose 2%, to $48.52 in morning trading Tuesday while broader markets declined. GM shares are up 32% since the beginning of 2024. GM, which announced in April that it was moving its Detroit headquarters to a new downtown office building next year, also raised its dividend to 12 cents per share from the previous 9 cents per share.