GE Returning $26 Billion to Holders With Industrial `Pivot' Done
- `We got a ton done this year,' Immelt says at outlook meeting
- 2016 forecast: rising sales, profit in era of slow growth
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General Electric Co. will hand back $26 billion through dividends and stock repurchases in 2016 as the company rewards shareholders after tilting the business back toward manufacturing and away from finance.
“We got a ton done this year. Essentially we completed the portfolio pivot,” Chief Executive Officer Jeffrey Immelt said at GE’s annual outlook meeting in New York. “We’re returning a lot of cash to investors.”