Reuters: Global Markets: GE hikes dividend 12 percent, boosts stock buyback plan

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GE hikes dividend 12 percent, boosts stock buyback plan Dec 14th 2012, 16:02 Tweet Share this Email Print Related News MetLife warns on 2013 profit, expects no stock buybacks Thu, Dec 13 2012 3M sees 2013 earnings up 8 percent in weak economy Wed, Dec 12 2012 Apple's gains lift tech in quiet day before jobs data Thu, Dec 6 2012 Sirius sets long-awaited buyback, issues dividend Thu, Dec 6 2012 Costco to pay out $3 billion in special dividend Wed, Nov 28 2012 Analysis & Opinion HK exchange plays it safe with equity finance Corporate America fears taxes more than recession Related Topics Hot Stocks » Asian Markets » A GE logo is seen in a store in Santa Monica, California, October 11, 2010. Credit: Reuters/Lucy Nicholson Fri Dec 14, 2012 11:02am EST (Reuters) - General Electric Co (GE.N) on Friday raised its dividend by 12 percent, to a 19 cent quarterly payout, starting in January. The largest U.S. conglomerate did not follow on the heels of peers including Caterpillar Inc (CAT.N) and Legg Mason Inc (LM.N), who have pushed up their dividend payments into December, with an eye towards avoiding any higher tax rates that could take effect as a result of Washington budget negotiations. GE's board authorized the company to buy back another $10 billion in shares - in line with the company's goal of buying back all the additional shares it issued in 2008 to raise cash in the face of the financial crisis. "Returning cash to our shareholders remains a top priority," said Chief Executive Jeff Immelt. GE shares were up 1 cent at $21.63 on the New York Stock Exchange. (Reporting By Scott Malone; Editing by Gerald E. McCormick) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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