8. General Motors Company (NYSE:GM)
Number of Hedge Fund Holders: 68
General Motors Company (NYSE:GM) ranks eighth on our list of stocks that raised their dividends. The American multinational automotive manufacturing company sells trucks, cars, and auto parts and provides software-enabled services and subscriptions. On February 26, the company announced a 25% increase in its quarterly dividend to $0.15 per share. It has been making regular dividend payments to shareholders since 2014 due to its strong cash position. In FY24, the company’s operating cash flow and free cash flow sat at $24 billion and $24 billion, respectively. As of March 6, the stock supports a dividend yield of 1.01%.
In the fourth quarter of 2024, General Motors Company (NYSE:GM) reported $47.7 billion in revenue, reflecting an 11% increase from the same period the previous year. However, the company’s net income declined by more than $5 billion, largely due to special charges. These included $4 billion in non-cash restructuring costs and write-downs related to its interests in certain China joint ventures. In addition, GM recorded $0.5 billion in expenses after deciding to discontinue funding for its Cruise robotaxi business.
Rather than continuing to develop robotaxis—a venture that would require significant time and resources to scale in an increasingly competitive market—General Motors Company (NYSE:GM) has redirected its focus toward driver-assist technologies that offer more immediate revenue potential. This shift has allowed the company to assess consumer demand for such features, with encouraging results. According to CEO Mary Barra, around 20% of the nearly 18,000 Super Cruise users chose to continue their subscription after their three-year trial period ended in 2024.
