GE Adds $10 Billion to Share Buybacks as Immelt Returns Cash
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General Electric Co. will buy back an additional $10 billion of shares and increase its dividend for the fifth time since 2010 as Chief Executive Officer Jeffrey Immelt rushes to return cash to investors.
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.