CEO John Flannery told analysts at a industry conference in Florida on Wednesday that GE will “have to see how” the company’s turnaround plan “play outs” before deciding whether to cut the company’s dividend again. GE shares dropped the most in a single day of trading since April 2009 after Flannery’s comments.
Flannery’s remarks may have been misinterpreted, according to those familiar. The industrial conglomerate cuts its dividend in half on Nov. 13. Beginning in December, GE’s quarterly payout is 12 cents per share, rather than the 24 cents per share of years past.
Shares of GE rose over 2 percent in trading Thursday.
This is breaking news. Please check back for updates.
Source: Investment Cnbc
GE doesn't plan to cut dividend again, sources say