GM’s stock soars 7% after unveiling $10 billion share buyback and plan to hike dividend by 33%

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General Motors Co.’s stock soared 7% early Wednesday, after the car maker unveiled plans to reward its shareholders generously now that labor strikes are out of the way.

The company GM said it’s reinstating 2023 guidance that it pulled in the third quarter amid the uncertainty about the strikes, planning a $10 billion accelerated share buyback program and a 33% increase in its dividend starting with the January declaration.

The…

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