General Motors (GM) shares advanced Tuesday after the biggest U.S. automaker announced its second 澳洲幸运5官方开奖结果体彩网:stock buyback in seven months. 

GM said its board had approved up to $6 billion in share repurchases, which will kick in after money from the current program is exhausted, which is expected at the end of the month.

澳洲幸运5官方开奖结果体彩网:In November, GM declared a $10 billion accelerated stock buyback, which was added to the $1.4 billion left from the previous one. For all of 2023, the company bought $11.1 billion of its stock, and ha😼s spent $300 million so far this year. GM intends to make a total of $1.4 billion in repurchases in the first half of 2024.ꦿ

No timetabꦕle was given for when the new plan will end.

GM 'Very Focused' on Profitability of ICE Vehicles

澳洲幸运5官方开奖结果体彩网:Chief Financial Officer (CFO) Paul Jacobson explained that GM was “very focused” on the profitability of its internal combustion engine (ICE) vehicles, as well as improving profitability for its money-losing electric vehicle (EV) businℱess. He noted those steps, along with deploying capi🐼tal efficiently, “allows us to continue returning cash to shareholders.” 

The news sent shares of General Motors up 1.1% soon after the opening bell Tuesday to $48.09, their highest level in more than two years.