GM spends USD 3.9 billion to redeem preferred stock  [ USA ]

GM announced on December 31 that it has redeemed all 156.1 million outstanding shares of its Series A Preferred Stock from the UAW Retiree Medical Benefits Trust (UAW VEBA) and Canada Gen Investment Corporation for an aggregate liquidation amount of USD 3.9 billion, including accumulated dividends. In association with the redemption of the shares, a reduction in net income attributable to commo...
<Jan 06, 2015>