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Companies team for technologies
FAIRFIELD, Conn., Dec. 10 (UPI) -- General Electric of Fairfield, Conn., raised its dividend Friday and announced plans to repurchase up to $15 billion of its common stock.
GE said its board of directors raised the quarterly common stock dividend 10 percent and authorized the repurchase of up to $15 billion of its common stock over the next three years.
"GE has tremendous prospects for growth in earnings and cash flow," said GE Chairman and Chief Executive Officer Jeff Immelt.
The dividend increase, to 22 cents from 20 cents per share is payable Jan. 25 to shareholders of record Dec. 27.
The new share repurchase program replaces a program first authorized in 1994. Since 1994, GE has returned more than $75 billion to shareowners through dividends and the repurchase of more than 1.1 billion shares.
GE is a diversified technology, media and services company.
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