General Electric Co. cut its dividend for just the second time since the Great Depression as new Chief Executive Officer John Flannery grapples with one of the deepest slumps in the manufacturer’s history. The quarterly payout will drop 50 percent to 12 cents a share, the company said in a statement Monday, a move that will save about $4 billion a year. GE last reduced the dividend in 2009 as it struggled with fallout from the financial crisis.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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