January 12, 2014 / 11:08 PM / 4 years ago

GM close to reintroducing common stock dividend, CFO says

CHICAGO, Jan 12 (Reuters) - General Motors Co’s chief financial officer said on Sunday that the U.S. automaker is close to reintroducing a common stock dividend, but he declined to provide any details on timing.

“It’s clear to us that investors are anticipating a dividend,” Ammann, who is set to become GM president on Thursday, said on the sidelines of the North American International Auto Show.

“We’re closer than we have been given all the actions that we have taken, investment grade rating, all of that. When we have something to announce we’ll do it.”

GM last paid a dividend on its common stock in May 2008.

Ammann also said he believed the European car market has bottomed but wasn’t sure how fast it would rebound.

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