The Board of Directors of GE (NYSE: GE) today raised the Company’s quarterly dividend 4%, or $0.01 per outstanding share of the Company’s common stock, to $0.24 per outstanding share of the Company’s common stock. The Board declared that the dividend is payable January 25, 2017 to shareowners of record at the close of business on December 27, 2016. The ex-dividend date is December 22, 2016.
“GE has continued to deliver for our shareholders in 2016,” said GE Chairman and CEO Jeff Immelt. “We have a disciplined capital allocation strategy with a plan to return approximately $30 billion of cash to shareholders this year. This dividend increase is in line with our multi-year capital allocation framework to have a dividend payout ratio of 45-50% and then grow the dividend in line with earnings. We are positioned for long-term transformational growth across our Digital Industrial businesses.”
In 2016, GE made significant advances in its strategy to become a simpler, more focused Digital Industrial company. GE has continued to transform its portfolio with the successful disposition of nearly all of GE Capital’s non-core assets, the closing of the sale of GE Appliances, and the ongoing integration of Alstom. In addition, GE is investing in the future of the company, with acquisitions in digital, additive manufacturing and renewable energy. GE also recently announced plans to create a new fullstream digital industrial services company by combining GE Oil & Gas and Baker Hughes.