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Industrials

GE’s Dividend Hike Commitment (GE)]

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By Jon C. Ogg Updated Published
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General Electric Co. (NYSE: GE) has held its annual shareholder meeting today.  With at least a bit of a surprise on our part, there was no formal action announced on the dividend.  Not yet.  However, the dividend hike is coming, and it seems we are probably now closer to a hike in the dividend than we are going backwards from when it was cut.   I was given a brief exclusive interview with Chairman and CEO Jeff Immelt this morning ahead of the shareholder meeting, and the dividend was the first order of business.

While Immelt did not commit on the timing (in 2011) nor on the amount to be paid out, the dividend hike is coming.  I specifically asked, “No sneaky news about the dividend?… You have said on record 2011, I guess you guys mean it.”

Immelt responded, “We’ve got a lot of cash.  We think growing the dividend is good for our investors.  We plan to do that and I’ve got nothing to add other than what was previously said… other than, the dividend is going up.”

The Immelt interview did not cover traditional 10-K material nor was it entirely based upon information that was covered at the annual meeting today.   That full interview will run tomorrow morning, so stay tuned.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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