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GM CORP. RAISES DIVIDEND 50%

SHARE GM CORP. RAISES DIVIDEND 50%

General Motors Corp. has raised the quarterly dividend on its common stock 50 percent, to 30 cents a share from 20 cents.

"We've come a long way in improving the financial health of the corporation and in strengthening the balance sheet," said GM president Jack Smith. "Our work is not done yet, but we have reached a position at which we believe a dividend increase for (GM common stock) can be sustained."GM, the world's largest automaker, last month reported record profits of $2.2 billion in the first quarter.