The Board of Directors of General Electric (GE) today raised the company’s quarterly dividend from $0.12 per outstanding share to $0.14 per outstanding share of the co.’s common stock. That marks a 17% hike and the second time the company raised its quarterly dividend this year.
The Board declared that the dividend is payable January 25, 2011 to shareowners of record at the close of business on December 27, 2010. The ex-dividend date is December 22, 2010.
“We are able to increase the GE dividend for the second time this year because of continued strong cash generation, accelerated recovery at GE Capital and solid underlying performance in our Industrial businesses through year-end 2010,” GE CEO Jeff Immelt said in a statement.
At last check, GE gained $0.58, or 3.42 percent, to $17.70 at 12:49 p.m. EST in New York Stock Exchange trading.