GE CEO Immlet Says US ‘Political Storms’ Could Reduce Capital Spending (GE)

General Electric Company (GE) CEO Jeff Immelt said in his annual letter to shareholders on Monday that the United States’ ongoing political uncertainty could curb the company’s, and the rest of corporate America’s, capital spending within the country.

Immlet said that the potential in growth in developing markets like China, Africa, and the Middle East leaves him more confident than the current US situation.

“The U.S. faces more major ‘political storms’ this year: the fiscal situation, repeated debt-limit controversy and tax reform. We fear that this uncertainty will impact capital investment,” he said.

Among GE’s top priorities going forward are a plan to raise the company’s current dividend as well as authorizing a plan to buyback more shares. Immlet said GE is looking to buyback enough shares to reduce the current shares outstanding to 10 billion, the amount prior to the financial crisis when the company sold additional shares.

General Electric shares were down 12 cents, or -0.51%, during Tuesday morning trading. The stock is up +22.79% over the past year.

The Bottom Line
Shares of General Electric (GE) have a dividend yield of 3.23% based on Tuesday’s intraday trading price of $23.50 and the company’s annualized dividend payout of 76 cents per share.

General Electric Company (GE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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