ge cuts dividend

New CEO Larry Culp is slashing the dividend of General Electric to a penny. This news came off as a 22 billion dollar writedown  for its power division was announced.

Here’s the link to the CNN story: GE cuts dividend


Adjusted earnings of 14 cents a share missed analysts’ estimates of 20 cents. Revenue of $29.57 billion also fell short of forecasts calling for $29.77 billion. Issues at its power business will last longer and will have a deeper impact that previously expected.

GE stock turned lower: toward nine-year low

Published by mikebertelsen

Global market, trade, and financial news. I keep up to date with what I assess is important.

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