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Wall Street ticks up as dividend payers rise, GE slashes payout

Reuters  |  NEW YORK 

By Rodrigo CamposNEW YORK (Reuters) - U.S. stock indexes rose on Monday as a sharp drop in General Electric shares was more than offset by gains in high dividend-paying sectors including consumer staples and utilities.General Electric slashed its dividend by 50 percent and cut its profit forecast while unveiling a plan that narrowed its focus on aviation, power and healthcare.Shares of the industrial conglomerate fell 7.2 percent to $19.02 after touching a more than five-year low of $18.75."People who were in GE for their dividend may be looking for a better place to put their money," said ...

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First Published: Tue, November 14 2017. 02:57 IST