GE Raises Dividend Sooner Than Planned in Show of Confidence

General Electric Co. raised a dividend sooner than it had predicted and restarted a stock buyback program, a sign of confidence its finance and industrial businesses are generating enough cash to reward investors. The shares climbed.

GE increased the per-share payout to 12 cents a quarter from 10 cents, according to a statement today. The Fairfield, Connecticut-based company plans to begin repurchasing shares this quarter and extended the program through 2013 from the end of this year.

Chief Executive Officer Jeffrey Immelt and his board are tapping into cash stockpiles they began building in 2008 as the financial crisis deepened. Immelt said today’s move doesn’t preclude other uses for funds, including acquisitions, as he seeks to bolster profit growth next year.

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- Posted: 2010-07-23 13:54:54

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