General Motors unlikely to cut dividend-WSJ
June 3 (Reuters) - General Motors Corp GM.N is not likely to cut its dividend, even as the automaker is set to lay out restructuring actions on Tuesday at its annual meeting, the Wall Street Journal said, citing people briefed on the plan.
A GM spokeswoman declined to comment.
GM, facing a sinking U.S. market for trucks and SUVs, is expected to unveil steps to conserve cash and cut production of slower-selling models in a bid to shore up a faltering restructuring now in its third year, according to analysts. [ID:nN02315730]
Analysts expect GM to confirm deep production cuts of pickup trucks and SUVs in North America as consumers avoid those higher-margin vehicles in the face of record gas prices. They also expect the automaker to take other steps to save cash.
GM pays shareholders a quarterly dividend of 25 cents a share. On Monday, GM said Chief Executive Rick Wagoner and Chief Operating Officer Fritz Henderson would make a series of announcements and take questions from reporters and analysts as part of the automaker's annual meeting for shareholders.
Shares of GM closed at $17.44 Monday on the New York Stock Exchange. (Reporting by Tenzin Pema in Bangalore; Editing by Lincoln Feast)
