GE to Raise Dividend After Strong First Quarter
GE to Raise Dividend After Strong First
Quarter
The world's largest corporation, General Electric, posted a first quarter profit of nearly $3.4 billion on Thursday, fueled by improved performance at its trouble GE Capital financial arm. The Connecticut-based conglomerate, which makes a wide variety of products from aircraft engines to consumer electronics, said it would raise its dividend after reporting a near 80 percent rise in profits.
The company's CEO Jeffrey Immelt said in a statement: “As today's results show, GE has emerged from the recession a stronger, more competitive company.” Immelt noted that the conglomerate's healthcare, transportation, and aviation segments all had strong first quarters, as did the troubled financial branch. GE Capital earned $1.8 billion after taxes, Immelt said. The amount of the company's impending dividend raise was not announced.
The world's largest corporation, General Electric, posted a first quarter profit of nearly $3.4 billion on Thursday, fueled by improved performance at its trouble GE Capital financial arm. The Connecticut-based conglomerate, which makes a wide variety of products from aircraft engines to consumer electronics, said it would raise its dividend after reporting a near 80 percent rise in profits.
The company's CEO Jeffrey Immelt said in a statement: “As today's results show, GE has emerged from the recession a stronger, more competitive company.” Immelt noted that the conglomerate's healthcare, transportation, and aviation segments all had strong first quarters, as did the troubled financial branch. GE Capital earned $1.8 billion after taxes, Immelt said. The amount of the company's impending dividend raise was not announced.
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