GM Declares $0.50 Per Share Dividend

DETROIT - The General Motors Board of Directors has declared a quarterly dividend of $0.50 per share on GM $1-2/3 par value common stock. The dividend is payable Dec. 10, 2001, to holders of record as of Nov. 15, 2001. The dividend rate is unchanged from the previous quarter. The GM board also declared a quarterly dividend of $8.7793 per GM Series H automatically convertible preference stock. This dividend is payable on Feb. 1, 2002, to AOL Time Warner, the sole holder of record, on Jan. 7, 2002.