GE Raises Dividend 17% In Second Such Boost This Year |
| Wall Street Journal - Dec 10, 2010 |
General Electric Co. (GE) said Friday that it will raise its quarterly dividend by about 17% to 14 cents a share in a move that may precede further payout increases by U.S. industrial groups now flush with cash.
The second raise by GE this year still leaves the payout at less than half the level when GE made its historic dividend cut in February 2009 at a time when heavy losses at its finance arm weighed heavily on the U.S. conglomerate.
The move comes ahead of the company's annual outlook meeting next week and follows the improved performance by its core industrial business and the GE Capital finance arm, which plans to start repaying a dividend to its parent from 2012.
GE shares climbed following the announcement and were recently up 3.2% at $17.67, their highest level since May.
Read Full Article from Wall Street Journal
- Posted: 2010-12-10 13:31:42
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