GE Cuts Its Dividend

GE Cuts Its Dividend
GE Cuts Its Dividend
GE Cuts Its Dividend CNNMoney

General Electric is cutting its stock dividend for only the second time since the Great Depression.

In an article appearing today on CNN's Money website GE cuts dividend for second time since Great Depression by Matt Egan reports:

GE (GE) is one of America's most widely held stocks, and countless shareholders, including retirees, rely on the dividend payments. But the company is under enormous pressure to restore investor confidence shaken by a serious cash crunch.

The stock has lost 40% of its value this year. GE plunged 8% on Monday, to the lowest level in five and a half years, after the company announced the restructuring and diminished financial targets. The new dividend will be 12 cents a share, down from 24 cents.
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