General Electric cuts dividend by 91.8%

General Electric Company (GE) will cuts its dividend by another 91.8 percent to $0.01 quarterly per share in the fourth quarter of 2018. This follows a 50.0 percent dividend cut last year by the industrial giant.

By reducing the dividend the company expects to retain $3.9 billion of cash per year compared tot he prior payout level. GE expects to announce the fourth quarter dividend in December 2018.

A new $0.04 per share annualized dividend for General Electric would yield 0.4% at Tuesday’s closing price of $11.16.

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