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Basic Motors suspends dividend, inventory buybacks to maintain money

GM introduced the second one primary growth of its full-size pickup manufacturing capability this 12 months: with a $150 million funding at Flint Meeting to extend manufacturing of the all-new Chevrolet Silverado and GMC Sierra heavy-duty pickups.

JEFF KOWALSKY | AFP | Getty Photographs

Basic Motors stated Monday that it’s postponing its quarterly dividend and inventory buybacks to maintain money right through the coronavirus pandemic.

The automaker stated it additionally prolonged a $three.6 billion, three-year revolving credit score facility to April 2022 to assist bolster its liquidity. GM stated it is “taken different important austerity measures to maintain near-term to be had money.”

GM’s U.S. crops were shuttered since mid-March because of Covid-19.

That is breaking information. Please test again for updates.

GM introduced the second one primary growth of its full-size pickup manufacturing capability this 12 months: with a $150 million funding at Flint Meeting to extend manufacturing of the all-new Chevrolet Silverado and GMC Sierra heavy-duty pickups.

JEFF KOWALSKY | AFP | Getty Photographs

Basic Motors stated Monday that it’s postponing its quarterly dividend and inventory buybacks to maintain money right through the coronavirus pandemic.

The automaker stated it additionally prolonged a $three.6 billion, three-year revolving credit score facility to April 2022 to assist bolster its liquidity. GM stated it is “taken different important austerity measures to maintain near-term to be had money.”

GM’s U.S. crops were shuttered since mid-March because of Covid-19.

That is breaking information. Please test again for updates.

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