GE Increases Buyback, Boosts Dividend

GE

raised its dividend on Friday and boosted its buyback authorization. Shares moved to the upside, reversing earlier losses to a total session gain of about 0.50 percent. GE raised its dividend from $0.17 up to $0.19. The company also increased its buyback authorization by an additional $10 billion worth of shares and extended the plan through 2015. There had been about $5 billion remaining on the buyback plan. For a blue chip, GE has been a great performer in 2012. Year-to-date, shares are up over 20 percent, greatly outperforming the broader S&P 500.