Breaking news.
GE is cutting it’s dividend from .31 to .10 saving the company 9 billion beginning with Q3. GE continues to preserve capital.
9 BILLION Dollars in savings for GE means 9 BILLION Dollars not going in peoples/investors pockets. Vicious cycle.
“We recognize the importance of the dividend to our shareholders and the significance of this decision, but we believe it is the right precautionary action at this time to further strengthen our Company for the long-term, while still providing an attractive dividend,” GE Chairman and CEO Jeff Immelt said in prepared comments.
