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GE Speeds Dividend Increase in Show of Confidence
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General Electric Co. raised a dividend sooner than it had predicted and restarted a stock buyback program, signaling that its finance and industrial units are generating cash to reward investors. The shares climbed.
GE increased the quarterly payout 20 percent to 12 cents a share from 10 cents, according to a statement today. The dividend will be paid Oct. 25 to shareholders of record on Sept. 20. The Fairfield, Connecticut-based company also plans to begin repurchasing shares this quarter and extend the program through 2013 from the end of this year.