General Motors shares gain 4.5% after approval of a buyback program

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The shares of General Motors (GM.US) are gained before the opening of the session at Wall Street nearly 4.5% after the company's management board approved the program to buy own shares worth USD 6 billion (purchase worth USD 2 billion is to be finalized until the second quarter of this year). Moreover, the company increases the quarterly dividend by 25% to 15 cents per shares.

GM aims to strengthen the trust of shareholders. This movement is part of the continuous GM strategy regarding the return of a surplus of capital, after the purchase of shares worth $10 billion last year.

Source: XStation

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