General Electric will
buy back an additional $10 billion of shares and increase its dividend for the
fifth time since 2010 as CEO Jeffrey Immelt rushes to return cash to investors, Bloomberg gurus report.
GE raised the payout by 2 cents to 19 cents a share payable
on Jan. 25, the Fairfield, Connecticut-based company said today in a statement.
The world’s largest maker of jet engines, medical imaging equipment and diesel
locomotives slashed the payout to 10 cents a share in 2009 to save cash during
the financial crisis.
Immelt is emphasizing both higher dividends and stock
buybacks, with GE expecting to generate $100 billion of cash through 2016 as he
expands profit margins at industrial units and shrinks financial operations. GE
had $4.9 billion remaining on an existing repurchase plan running through next
year, and the additional shares will be bought through 2015...
Find out more at http://www.bloomberg.com/news/2012-12-14/ge-boosts-share-buybacks-by-10-billion-as-immelt-returns-cash.html
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