General Motors Co’s chief financial officer said the U.S. automaker is close to reintroducing a common stock dividend, but he declined to provide any details on timing.
GM last paid a dividend on its common stock in May 2008. Dan Ammann, who is set to become GM president on Thursday, also said he believed the European car market has bottomed but wasn’t sure how fast it would rebound. He said GM continues to believe it will break even financially in Europe – where it currently loses money – by mid-decade.
“It’s clear to us that investors are anticipating a dividend,” Dan Ammann said on the sidelines of the North American International Auto Show in Detroit.
Mary Barra, who will succeed Dan Akerson as GM CEO later this week, said the automaker would continue to strive to offer good values to customers after she takes the helm. Barra, a Detroit-area native and GM “lifer” who started with the company as an 18-year-old intern in 1980, will be the automaker’s first-ever female chief executive.