Friday, July 23, 2010

GE - party like it's 1999

Well General Electric (GE) who cut their dividend from $0.31 per share to $0.10 per share in early 2009 has now boosted their pay out to $0.12 per share.  This 20% increase brings their dividend back to levels last visited in before the turn of the century.  Yes, GE shareholders including myself are partying like it's 1999.

This increase came earlier than expected as GE had mentioned that they were looking to a dividend hike in 2011.  They also announced an extension of their share repurchase program as they are sitting on loads of cash.  I'll take a dividend increase any way that I can get one and I remain confident in GE's future.  I especially like their involvement with alternative energy and developing market infrastructure.  Their high weighting in financial services really hurt them during the financial crisis.

1 comment:

Financial Cents said...

Hey, a dividend hike is a dividend hike. Good on you!