General Motors Declares Dividend on Preferred Stock

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Mar 17, 2011, 02:26 ET

DETROIT, March 17, 2011 /PRNewswire/ -- General Motors Company (NYSE: GM) today announced its Board of Directors has approved a second quarterly dividend of $0.594 per share on its Series B mandatory convertible junior preferred stock. The dividend is payable June 1, 2011 to Series B holders of record as of May 15, 2011. The dividend is cumulative. The total amount of the dividend is approximately $59.4 million.

About General Motors – General Motors (NYSE: GM, TSX: GMM), one of the world's largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 202,000 people in every major region of the world and does business in more than 120 countries. GM and its strategic partners produce cars and trucks in 30 countries, and sell and service these vehicles through the following brands: Baojun, Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden, Isuzu, Jiefang, Opel, Vauxhall, and Wuling. GM's largest national market is China, followed by the United States, Brazil, the United Kingdom, Germany, Canada, and Italy. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on the new General Motors can be found at www.gm.com.

SOURCE General Motors