GM » Topics » Dividends

This excerpt taken from the GM 8-K filed May 14, 2009.

Dividends

Dividends may be paid on our common stock when, as, and if declared by our Board of Directors, subject to the consent of the UST and, if in excess of $100 million, the approval of the Presidential Designee, out of amounts available for dividends under applicable law. Under Delaware law, our Board may declare dividends only to the extent of our statutory surplus (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the current and/or immediately preceding fiscal year.

Our policy is to distribute dividends on our common stock based on the outlook and indicated capital needs of our business. Cash dividends per share of common stock were $0.50, $1.00 and $1.00 in 2008, 2007 and 2006, respectively.

In July 2008, our Board of Directors voted to suspend dividends on our common stock indefinitely.

As noted above, under the terms of our UST Loans, we are prohibited from paying dividends without the consent of the UST and, if we declare a dividend in excess of $100 million, without the approval of the Presidential Designee. Refer to Note 15 to the consolidated financial statements.


GENERAL MOTORS CORPORATION AND SUBSIDIARIES

 

This excerpt taken from the GM 10-Q filed May 8, 2009.

Dividends

Dividends may be paid on our common stock when, as, and if declared by our Board of Directors, subject to the consent of the UST and, if in excess of $100 million, the approval of the President’s Designee under the terms of the UST Loans, out of amounts available

 

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for dividends under applicable law. Under Delaware law, our Board may declare dividends only to the extent of our statutory “surplus” (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the then current and/or immediately preceding fiscal year.

Our policy is to distribute dividends on our common stock based on the outlook and indicated capital needs of the business. Cash dividends per share of common stock were $0.25 in the three months ended March 31, 2008. In July 2008, our Board of Directors voted to suspend dividends on our common stock indefinitely; therefore no dividends were paid on our common stock in the three months ended March 31, 2009.

This excerpt taken from the GM 10-K filed Mar 5, 2009.

Dividends

Dividends may be paid on our common stock when, as, and if declared by our Board of Directors, subject to the consent of the UST and, if in excess of $100 million, the approval of the Presidential Designee, out of amounts available for dividends under applicable law. Under Delaware law, our Board may declare dividends only to the extent of our statutory surplus (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the current and/or immediately preceding fiscal year.

Our policy is to distribute dividends on our common stock based on the outlook and indicated capital needs of our business. Cash dividends per share of common stock were $0.50, $1.00 and $1.00 in 2008, 2007 and 2006, respectively.

In July 2008, our Board of Directors voted to suspend dividends on our common stock indefinitely.

As noted above, under the terms of our UST Loans, we are prohibited from paying dividends without the consent of the UST and, if we declare a dividend in excess of $100 million, without the approval of the Presidential Designee. Refer to Note 15 to the consolidated financial statements.

 

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This excerpt taken from the GM 10-Q filed Nov 10, 2008.
Dividends
 
On July 14, 2008, our Board of Directors voted to suspend dividends on our common stock indefinitely.
 
Dividends may be paid on our common stock when, as, and if declared by our Board of Directors in its sole discretion out of amounts available for dividends under applicable law. Under Delaware law, our Board may declare dividends only to the extent of our statutory “surplus” (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the then current and/or immediately preceding fiscal year.
 
Our policy is to distribute dividends on our common stock based on the outlook and indicated capital needs of the business. Cash dividends per share on common stock were $0.50 and $0.75 in the nine months ended September 30, 2008 and 2007, respectively ($0.25 per quarter in the three months ended March 31, 2008 and June 30, 2008 and $0.25 per quarter in the three months ended March 31, 2007, June 30, 2007 and September 30, 2007.) At the February 5, 2008 and May 6, 2008 meetings of our Board of Directors, the Board approved the payment of a $0.25 quarterly dividend on common stock in the three months ended March 31, 2008 and June 30, 2008, respectively.


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This excerpt taken from the GM 10-Q filed Aug 7, 2008.
Dividends
 
On July 14, 2008, our Board of Directors voted to suspend dividends on our common stock indefinitely.
 
Dividends may be paid on our common stock when, as, and if declared by our Board of Directors in its sole discretion out of amounts available for dividends under applicable law. Under Delaware law, our Board may declare dividends only to the extent of our statutory “surplus” (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the then current and/or immediately preceding fiscal year.
 
Our policy is to distribute dividends on our common stock based on the outlook and indicated capital needs of the business. Cash dividends per share on common stock were $0.25 for the quarter ended June 30, 2008, $0.50 for the year to date period ended June 30, 2008 and $1.00 in 2007 ($0.25 per quarter). At the February 5, 2008 and May 6, 2008 meetings of our Board of Directors, the Board approved the payment of a $0.25 quarterly dividend on common stock during the quarters ended March 31, 2008 and June 30, 2008, respectively.


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This excerpt taken from the GM 10-Q filed May 8, 2008.
Dividends
 
Dividends may be paid on our common stock when, as, and if declared by our Board of Directors in its sole discretion out of amounts available for dividends under applicable law. Under Delaware law, our Board may declare dividends only to the extent of our statutory “surplus” (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the then current and/or immediately preceding fiscal year.
 
Our policy is to distribute dividends on our common stock based on the outlook and indicated capital needs of the business. Cash dividends per share on common stock were $0.25 for the three months ended March 31, 2008 and $1.00 in 2007 ($0.25 per quarter). At the February 5, 2008 and May 6, 2008 meetings of our Board of Directors, the Board approved the payment of a $0.25 quarterly dividend on common stock in three months ended March 31, 2008 and June 30, 2008, respectively.


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This excerpt taken from the GM 10-K filed Feb 28, 2008.
Dividends
 
Dividends may be paid on our Common Stock when, as, and if declared by our Board of Directors in its sole discretion out of amounts available for dividends under applicable law. Under Delaware law, our Board may declare dividends only to the extent of our statutory “surplus” (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the current and/or immediately preceding fiscal year.
 
Our policy is to distribute dividends on our Common Stock based on the outlook and indicated capital needs of our business. Cash dividends per share of Common Stock were $1.00 in 2007 and 2006, and $2.00 in 2005. At the February 5, 2008 meeting of our Board of Directors, the Board approved the payment of a $0.25 quarterly dividend on our Common Stock for the first quarter of 2008. For 2007, cash dividends per share of Common Stock were $0.25 per quarter.


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GENERAL MOTORS CORPORATION AND SUBSIDIARIES
 
 
This excerpt taken from the GM 10-Q filed Nov 8, 2007.
Dividends
 
Dividends may be paid on our common stock when, as, and if declared by our Board of Directors in its sole discretion out of amounts available for dividends under applicable law. Under Delaware law, our Board may declare dividends only to the extent of our statutory “surplus” (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the then current and/or immediately preceding fiscal year.
 
Our policy is to distribute dividends on our common stock based on the outlook and indicated capital needs of the business. Cash dividends per share on common stock were $1.00 in 2006, and $2.00 in 2005 and 2004. In 2007, the GM Board of Directors declared on February 6, 2007, May 1, 2007, August 7, 2007 and November 6, 2007 a $0.25 quarterly dividend on GM’s common stock for each of the first, second, third and fourth quarters of 2007, respectively. Cash dividends per share of common stock were $0.25 per quarter for 2006.
 
This excerpt taken from the GM 10-Q filed Aug 7, 2007.
Dividends
 
Dividends may be paid on our common stock when, as, and if declared by GM’s board of directors in its sole discretion out of amounts available for dividends under applicable law. Under Delaware law, our board may declare dividends only to the extent of our statutory “surplus” (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the then current and/or immediately preceding fiscal year.
 
GM’s policy is to distribute dividends on its common stock based on the outlook and indicated capital needs of the business. Cash dividends per share on common stock were $1.00 in 2006, and $2.00 in 2005 and 2004. At the February 6, 2007 and May 1, 2007 meetings of the GM board of directors, the board approved the payment of a $0.25 quarterly dividend on GM’s common stock for the first and second quarters of 2007, respectively. Cash dividends per share of common stock were $0.25 per quarter for 2006.
 
This excerpt taken from the GM 10-Q filed May 8, 2007.
Dividends
 
Dividends may be paid on our common stock when, as, and if declared by GM’s board of directors in its sole discretion out of amounts available for dividends under applicable law. Under Delaware law, our board may declare dividends only to the extent of our statutory “surplus” (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the then current and/or immediately preceding fiscal year.
 
GM’s policy is to distribute dividends on its common stock based on the outlook and indicated capital needs of the business. Cash dividends per share on common stock were $1.00 in 2006, and $2.00 in 2005 and 2004. At the February 6, 2007 and May 1, 2007 meetings of the GM board of directors, the board approved the payment of a $0.25 quarterly dividend on GM’s common stock for the first and second quarters of 2007, respectively. Cash dividends per share of common stock were $0.25 per quarter for 2006.


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This excerpt taken from the GM DEF 14A filed Apr 27, 2007.

SECTION 12. DIVIDENDS

(a) Subject to the provisions of the Plan, the recipient of an Award (including, without limitation, any deferred Award) may, if so determined by the Committee, be entitled to receive, currently or on a deferred basis, cash or stock dividends, or cash payments in amounts equivalent to cash or stock dividends on Shares with respect to the number of Shares covered by the Award, as determined by the Committee, in its sole discretion, and the Committee may provide that such amounts (if any) shall be deemed to have been reinvested in additional Shares or otherwise reinvested. With respect to any dividend or other distribution on any Shares, the Committee may, in its discretion, authorize current or deferred payments (payable in cash or stock or a combination thereof, as determined by the Committee) or appropriate adjustments to an outstanding Award to reflect such dividend or distribution.

(b) Except as specifically provided at the time of the Award grant, no holder of any Award shall have any rights to dividends or other rights of a stockholder with respect to Shares subject to the Award prior to becoming the record owner of such Shares.

This excerpt taken from the GM 10-K filed Mar 15, 2007.
Dividends
 
Dividends may be paid on our $12/3 par value common stock when, as, and if declared by GM’s board of directors in its sole discretion out of amounts available for dividends under applicable law. Under Delaware law, our board may declare dividends only to the extent of our statutory “surplus” (i.e., total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the then current and/or immediately preceding fiscal year.
 
GM’s policy is to distribute dividends on its $12/3 par value common stock based on the outlook and indicated capital needs of the business. Cash dividends per share of GM $12/3 par value common stock were $1.00 in 2006, and


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This excerpt taken from the GM 10-Q filed Nov 7, 2006.
Dividends
 
Dividends may be paid on the Common Stock only when, as, and if declared by GM’s Board of Directors in its sole discretion out of amounts available for dividends under applicable law. Under Delaware law, our board may declare dividends only to the extent of our statutory “surplus” (which is defined as total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the then current and/or immediately preceding fiscal year.
 
GM’s policy is to distribute dividends on the Common Stock based on the outlook and indicated capital needs of the business. Cash dividends per share of the Common Stock were $2.00 in 2005, 2004, and 2003. At the February 6, 2006 meeting of the GM Board of Directors, the board approved the reduction of the quarterly dividend on the Common Stock from $0.50 per share to $0.25 per share, effective for the first quarter of 2006. Cash dividends per share of the Common Stock were $0.25 per quarter for the first three quarters of 2006.


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GENERAL MOTORS CORPORATION AND SUBSIDIARIES

This excerpt taken from the GM 10-Q filed Aug 8, 2006.
Dividends
 
Dividends may be paid on the Common Stock only when, as, and if declared by GM’s Board of Directors in its sole discretion out of amounts available for dividends under applicable law. At June 30, 2006, the amount of our capital surplus less accumulated deficit on a GAAP basis was approximately $14.4 billion. Under Delaware law, our board may declare dividends only to the extent of our statutory “surplus” (which is defined as total assets minus total liabilities, in each case at fair market value, minus statutory capital), or if there is no such surplus, out of our net profits for the then current and/or immediately preceding fiscal year.
 
GM’s policy is to distribute dividends on the Common Stock based on the outlook and indicated capital needs of the business. Cash dividends per share of the Common Stock were $2.00 in 2005, 2004, and 2003. At the February 6, 2006 meeting of the GM Board of Directors, the board approved the reduction of the quarterly dividend on the Common Stock from $0.50 per share to $0.25 per share, effective for the first quarter of 2006. On August 1, 2006, the GM Board declared a quarterly cash dividend of $0.25 per share on the Common Stock, payable September 9, 2006, to holders of record on August 11, 2006.


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GENERAL MOTORS CORPORATION AND SUBSIDIARIES

 
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