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General Motors pays first common stock dividend in six years

DETROIT (WKZO) -- For the first time in six years, General Motors will pay a quarterly dividend on common stock.

GM says it will pay 30 cents a share.  That's a nickel more than the automaker paid on its last common stock dividend in June of 2008.  That was a year before the cratering economy drove GM to bankruptcy and a nearly 50-billion dollar taxpayer bailout.

Tuesday's dividend announcement lifted GM's stock three-percent in after-hours trading.