Fairfield, Conn., April 21, 2011 --The Board of Directors of General Electric Company (NYSE:GE) today raised the Company's quarterly dividend $0.01 from $0.14 per outstanding share of the Company's common stock to $0.15 per outstanding share of the Company's common stock. The Board declared that the dividend is payable July 25, 2011 to shareowners of record at the close of business on June 20, 2011. The ex-dividend date is June 16, 2011.
"We are pleased to declare for the third time in the past 12 months an increase in GE's quarterly dividend," GE Chairman and CEO Jeff Immelt said. "It reflects not only our continued strong cash generation and accelerated recovery at GE Capital, but also solid underlying performance in our Industrial businesses and confidence in the GE business model overall."
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GE (NYSE: GE) is a diversified infrastructure, finance company taking on the world's toughest challenges. From aviation and power generation to financial services, healthcare solutions, oil and gas and rail, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Caution Concerning Forward-Looking Statements:
This document contains "forward-looking statements" -- that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: current economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; the impact of conditions in the financial and credit markets on the availability and cost of General Electric Capital Corporation's (GECC) funding and on our ability to reduce GECC's asset levels as planned; the impact of conditions in the housing market and unemployment rates on the level of commercial and consumer credit defaults; changes in Japanese consumer behavior that may affect our estimates of liability for excess interest refund claims (Grey Zone); potential financial implications from the Japanese natural disaster; our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so; the adequacy of our cash flow and earnings and other conditions which may affect our ability to pay our quarterly dividend at the planned level; the level of demand and financial performance of the major industries we serve, including, without limitation, air and rail transportation, energy generation, real estate and healthcare; the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks, including the impact of financial services regulation; strategic actions, includingacquisitions, joint ventures and dispositions and our success in completing announced transactions and integrating acquired businesses; and numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
Trevor Schauenberg
GE Corporate VP Investor Communications
[email protected]
1-203-373-2424
Anne Eisele