Top 5 Gainers on Friday

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1. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 75

Shares of General Motors Company (NYSE:GM) rose after the opening bell on Friday after announcing that it is resuming the disbursement of quarterly dividends to shareholders.

The Detroit-based automaker plans to release the first dividend of 9 cents per share on September 15, 2022. In addition, General Motors Company (NYSE:GM) also increased its stock repurchase program to $5 billion

General Motors Company (NYSE:GM) had suspended dividend payouts following the coronavirus outbreak in 2020. Back then, it wanted to save cash to effectively steer through an uncertain economic environment caused by the pandemic.

However, the latest announcements indicate that senior leadership at General Motors Company (NYSE:GM) is optimistic about GM’s ongoing growth initiatives and its ability to expand while returning capital to stakeholders.

You can also take a peek at 8 Restaurant Stocks to Avoid as Americans Begin to Cut Spending and Jim Cramer Recommends These 10 Stocks For Recession.

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