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GE slashes quarterly dividend ahead of expected restructuring

Reuters 

By Alwyn Scott and Ankit Ajmera(Reuters) - General Electric Co chopped its quarterly dividend in half on Monday, new Chief Executive John Flannery's first move in an overhaul of the conglomerate he is due to announce later in the day.GE cut the dividend to 12 cents per share from 24 cents starting in December, which is expected to save the company about $4 billion in cash annually.Its shares were up 0.7 percent at $20.64 in premarket trading. The stock is the worst performing Dow component this year, down 35 percent through Friday's close.Flannery plans to focus on three of GE's biggest ...

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First Published: Mon, November 13 2017. 19:27 IST
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