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General Motors pays first common stock dividend in six years

The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August
The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August

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.

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