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Share Name | Share Symbol | Market | Type |
---|---|---|---|
GE Aerospace | NYSE:GE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.85 | 1.14% | 164.49 | 165.74 | 162.0101 | 165.30 | 3,967,223 | 01:00:00 |
GE (NYSE:GE) today announced that its Board of Directors has determined to set the Company’s quarterly dividend to a projected payout of $.12 per outstanding share of the Company's stock. This represents a 50% reduction from the current quarterly dividend of $.24. This change will be effective beginning with the Board’s next dividend declaration, which is expected to occur in December.
“We understand the importance of this decision to our shareowners and we have not made it lightly. We are focused on driving total shareholder return and believe this is the right decision to align our dividend payout to cash flow generation," said John Flannery, Chairman and CEO of GE.
Mr. Flannery added, "The dividend remains an important component of GE’s capital allocation framework. With this action and others that we will be discussing this morning, we are acting with urgency to make GE simpler and stronger to drive growth and create more value for our shareowners.”
The Company will discuss additional business and strategy updates at the GE Investor Update, which will begin at 9:00AM EST today, November 13, 2017.
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.
Caution Concerning Forward-Looking Statements
This document contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," “estimate,” “forecast,” "target," “preliminary,” or “range.”
Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about our announced plan to exit $20 billion or more of assets in 2018 and 2019, the completion of our announced plan to reduce the size of our financial services businesses, including earnings per share of GE Capital Global Holdings, LLC’s (GE Capital) retained businesses (Verticals); expected income and Industrial operating profit; earnings per share, including the impact of the new revenue recognition accounting standard; revenues; organic growth; growth and productivity associated with our Digital and Additive businesses; margins; cost structure and plans to reduce costs; restructuring, impairment or other financial charges; tax rates; transaction-related synergies, proceeds and gains; cash flows and cash flow conversion, including the impact of working capital, contract assets and pension funding contributions; returns on capital and investment; capital expenditures; capital allocation, including dividends, share repurchases, acquisitions and liquidity; or capital structure, including credit ratings, debt-to-earnings ratios and leverage.
For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include:
These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
This document also includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171113005581/en/
Investor Contact:Matt Cribbins, 617.443.3400matthewg.cribbins@ge.com
Media Contact:Jennifer Erickson, 646.682.5620jennifer.erickson@ge.com
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