On Friday, technology company, General Electric Company(GE) reported that they will be increasing their dividend, and extending their share buy back program.
GE announced that they will be increasing their quarterly dividend by 2 cents from 17 cents per share to 19 cents per share. This dividend will be paid on January 25 to shareholders of record on December 24. The stock will go ex-dividend on December 20.
Additionally, the company reported that they have increased their share buy back program by $10 billion, which will run through 2015. The plan was previously expected to end at the end of 2013.
General Electric shares were mostly flat during Friday morning trading. The stock is up 20% YTD.
The Bottom Line
Shares of General Electric (GE) will now have a 3.52% dividend yield, based on the higher dividend payout and last night’s closing stock price of $21.62. The stock has technical support in the $19 price area. If the shares can firm up, we see overhead resistance around the $23 price level.
General Electric Company(GE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.