Why General Electric's Shares Dropped 8% Today
Shares of industrial giant General Electric Company (NYSE: GE) dropped as much as 8.2% in trading Monday after the company announced a dividend reduction and reduced guidance. Shares slipped throughout the day and were down 8% at 2:50 p.m. EST.
The dividend will be reduced from $0.24 per share quarterly to $0.12 per share, saving the company about $4 billion per year. A dividend cut was widely expected, but the scale of the cut may have caught some investors by surprise.
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Source: Fool.com
General Electric Co. Stock
€148.00
0.000%
With 35 Buy predictions and not a single Sell prediction General Electric Co. is an absolute favorite of our community.
With a target price of 162 € there is a slightly positive potential of 9.46% for General Electric Co. compared to the current price of 148.0 €.
