In the last couple of years, General Motors has been an aggressive buyer of its own stock thereby sending about $20 billion back to shareholders via share repurchases. The company will keep shoveling cash back to its shareholders next year, CFO Paul Jacobson says. Jacobson reiterates that GM plans to spend another $5 billion or so on buybacks early next year to get its share count under 1 billion. That’s just the next mile marker, not the end of the buyback cruise, he adds. GM’s stock trades on a low multiple, a reflection of investors’ belief that the company’s long-term earnings power is in the gas-powered vehicle business, and skepticism about the company’s prospects in EVs and autonomous robotaxis. So, under Jacobson, GM has responded by giving investors another thing they love: cash. GM up 4.2% in early trading.