General Electric Co. said Friday that it increased its quarterly dividend by 4.3%, or a penny per share, to 24 cents.
This is the first increase since December 2014, when the company also raised the payout by 1 cent to 23 cents. In total, the company plans to return around $30 billion to shareholders this year.
At the current stock price of $31.59 in midday New York trading, the new annual dividend rate implies a dividend yield of 3.02%, compared with the aggregate dividend yield for the Dow Jones Industrial Average of 2.34%.
Earlier this year, the Boston-based company cut its full-year sales outlook after reporting slowing sales and profit in its third quarter on continued weakness in its gas and oil business.
Write to Imani Moise at email@example.com