At the new 60-cent annual dividend rate, GM stock yields about 1.2%. The average dividend yield for a dividend-paying stock in the S&P 500 is about 2.3%. Ford Motor shares yield a

General Motors Co.’s stock jumped 4.2% early Wednesday, after the auto giant said its board has approved a 3 cent-per-share increase in its quarterly dividend in addition to a new $6 billion share-buyback authorization.

Shares of General Motors are rising Wednesday after the automaker announced a new $6 billion stock buyback plan and raised its quarterly dividend.