General Electric Boosts Dividend by 17% (GE)
Multinational conglomerate General Electric Company ( GE ) on Friday announced a nearly 17% raised in its quarterly dividend payout, sending its shares higher in midday trading.
The company's board of directors approved a 2-cent per-share raise in its quarterly payout, which now moves to 14 cents per share. This is the second dividend increase for the company this year.
The new dividend is payable on Jan. 25 to shareholders of record as of Dec. 27, making the ex-dividend date Dec. 22.
General Electric shares rose 52 cents, or +3%, in midday trading Friday.
The Bottom Line
We have been recommending shares of General Electric ( GE ) since July 23, 2010, when the stock was trading at $15.21. The company will now have a 3.27% dividend yield, based on the new higher dividend payout and last night's closing stock price of $17.13.
General Electric Company ( GE ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.