Kyle Bass On CNBC: General Motors Could Double Its Dividend

Hayman Capital's Kyle Bass spoke about General Motors Company GM on CNBC Friday. Bass claimed that the automaker has “too much capital on its balance sheet.”

“With $27 billion in cash and doing $15 billion a year in EBITDA and...$5 or $6 billion in free cash flow, they could afford to...double their dividend,” Bass said.

Bass felt that if General Motors CEO Mary Barra is shareholder-focused, a different capital allocation policy could come into play which Bass indicated would be relatively easy to implement once UAW and product recall issues are behind GM.

Bass mentioned that firm owns four million shares of General Motors, which appears to be down from approximately 5.25 million shares as of the firm’s September 30 13F filing.

General Motors recently traded at $34.13, up 0.92 percent.