DETROIT -- General Motors will pay the first quarterly dividend on its common stock in almost six years, marking another step in the recovery from its 2009 bankruptcy.
GM said its board of directors approved the 30-cent-a-share payout today. It will be payable on March 28 to all common shareholders as of March 18.
The automaker has not paid a dividend since June 2008 when it moved to save cash as losses mounted during the U.S. recession.
Separately, GM named Chuck Stevens as its new CFO to replace Dan Ammann, who last month was named GM's president. The changes took effect Wednesday, along with Mary Barra succeeding outgoing CEO Dan Akerson.