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General Electric cuts quarterly dividend by 50% ahead of expected overhaul

We are focused on driving total shareholder return and believe this is the right decision: GE CEO


General Electric Co said on Monday it would halve its quarterly dividend, as part of an overhaul of the company that new Chief Executive John Flannery is due to roll out later in the day. GE said it would cut the dividend to 12 cents per share from 24 cents, starting in December. This is the third time the company has cut its dividend in its 125-year history. The other two dividend cuts were during the Great Depression and the 2009 financial crisis. The move, widely expected after GE's cash flow deteriorated this year, is expected to save about $4 billion in cash ...

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First Published: Mon, November 13 2017. 18:35 IST