GE Board of Directors Approves 4% Increase in Quarterly Dividend
10 December 2016 - 3:27AM
Business Wire
The Board of Directors of GE (NYSE:GE) today raised the
Company’s quarterly dividend 4%, or $0.01 per outstanding share of
the Company’s common stock, to $0.24 per outstanding share of the
Company’s common stock. The Board declared that the dividend is
payable January 25, 2017 to shareowners of record at the close of
business on December 27, 2016. The ex-dividend date is December 22,
2016.
“GE has continued to deliver for our shareholders in 2016,” said
GE Chairman and CEO Jeff Immelt. “We have a disciplined capital
allocation strategy with a plan to return approximately $30 billion
of cash to shareholders this year. This dividend increase is in
line with our multi-year capital allocation framework to have a
dividend payout ratio of 45-50% and then grow the dividend in line
with earnings. We are positioned for long-term transformational
growth across our Digital Industrial businesses.”
In 2016, GE made significant advances in its strategy to become
a simpler, more focused Digital Industrial company. GE has
continued to transform its portfolio with the successful
disposition of nearly all of GE Capital’s non-core assets, the
closing of the sale of GE Appliances, and the ongoing integration
of Alstom. In addition, GE is investing in the future of the
company, with acquisitions in digital, additive manufacturing and
renewable energy. GE also recently announced plans to create a new
fullstream digital industrial services company by combining GE Oil
& Gas and Baker Hughes.
About GE
GE (NYSE:GE) is the world’s Digital Industrial Company,
transforming industry with software-defined machines and solutions
that are connected, responsive and predictive. GE is organized
around a global exchange of knowledge, the "GE Store," through
which each business shares and accesses the same technology,
markets, structure and intellect. Each invention further fuels
innovation and application across our industrial sectors. With
people, services, technology and scale, GE delivers better outcomes
for customers by speaking the language of industry. www.ge.com
GE’s Investor Relations website at www.ge.com/investor and our
corporate blog at www.gereports.com and @GE_Reports on Twitter, as
well as GE’s Facebook page and Twitter accounts, contain a
significant amount of information about GE, including financial and
other information for investors. GE encourages investors to visit
these websites from time to time, as information is updated and new
information is posted.
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Investors:Matt Cribbins,
617-443-3007matthewg.cribbins@ge.comorMedia:Jennifer
Erickson, 646.682.5620jennifer.erickson@ge.com
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