General Motors’ quarterly dividend is back

This is a summary. To read the whole story subscribe to

DETROIT — General Motors Co. said Tuesday that it will resume paying a quarterly dividend for the first time in nearly six years and named a new chief financial officer.

The new 30-cent dividend is payable in March.

Detroit-based GM hasn’t paid a dividend since June 2008, when it suspended its 25-cent dividend as it spiraled into debt and eventual bankruptcy.

Shares rose 3 percent in after-hours trading to $41.25.

GM was widely expected to restore its dividend after the US government sold its remaining stake in the company late last year. The Treasury received the stake in 2009 in exchange for a $50 billion bailout that saved GM from financial ruin. It ended up losing about $10 billion on the bailout.

Full story for subscribers.

Get the full story with unlimited access to

Just 99 cents for four weeks.