Carlos Osorio/Associated Press

The United States Treasury says General Motors has repurchased the rest of the preferred shares owned by the government for $2.1 billion.

G.M. bought the 84 million shares for $25.50 a piece, 2 percent more than their liquidation value. The company said it would book a $700 million charge related to the buyback early next year.

After G.M.’s initial public offering last month netted $13.5 billion for taxpayers, the buyback brings to $23.1 billion the amount the company has repaid out of $49.5 billion the government invested in a bailout.

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General Motors, like Chrysler, received emergency funds starting at the end of 2008, but the company filed for bankruptcy in mid-2009. Since then, American taxpayers have been, in President Obama’s words, “reluctant shareholders” in the company.

The government still holds more than 500 million shares of G.M. common stock with a value of $16.6 billion.

G.M. shares slipped $0.28, or 0.83 percent, to $33.61 on Wednesday. The company still owes the government about $26.4 billion for the rescue, almost $10 billion more than the Treasury’s one-third stake is worth at its current price.

Preferred shares have characteristics of both equity and debt. In this case, they carried a set liquidation value and a dividend of 9 percent.