Tags: GE | Capital | Dividends | Parent

GE Capital to Pay $6.5 Billion in Dividends to Parent

Monday, 20 May 2013 07:21 AM

General Electric Co.’s finance unit plans to return $6.5 billion in dividends to the parent company in 2013 as Chief Executive Officer Jeffrey Immelt pursues his plan to shrink the size of the business.

The payments from GE Capital will consist of $2 billion in earnings dividends and a $4.5 billion special dividend, GE said in a statement. GE Capital paid a first-quarter earnings dividend of $447 million on April 19, it said.

“This announcement is consistent with our goal to reduce the overall size of GE Capital and for it to return significant cash to GE,” Immelt said in the statement.

Transportation and other manufacturing businesses such as health care and energy have been a focus of Immelt’s growth strategy for Fairfield, Connecticut-based GE. He’s pulling back with the finance unit after credit-market disruptions in 2008 jeopardized the company.


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General Electric Co.’s finance unit plans to return $6.5 billion in dividends to the parent company in 2013 as Chief Executive Officer Jeffrey Immelt pursues his plan to shrink the size of the business.
GE,Capital,Dividends,Parent
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2013-21-20
Monday, 20 May 2013 07:21 AM
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