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[February 2009]
GE Board of Directors Authorises Regular Quarterly Dividend
The Board of Directors of General Electric Company (Fairfield, CT, USA) has authorised a regular quarterly dividend of US$0.31 per outstanding share of the company's common stock. The dividend is payable on 27 April 2009, to shareowners of record at the close of business on 23 February 2009. The ex-dividend date is 19 February 2009. This dividend payment will complete the dividend for the first half of 2009.
GE Chairman and CEO Jeff Immelt said: "The Board and I believe that it is in the best interests of the company's shareowners to continue to pay an attractive dividend. The Board and I will continue to evaluate the company's dividend level for the second half of 2009 in light of the growing uncertainty in the economy, including US government actions, rising unemployment and the recent announcements by the rating agencies.
“Our fundamental priorities will remain keeping the company safe and secure in the current environment and investing in attractive growth opportunities."
GE has taken steps to strengthen its liquidity position, including reducing GE Capital Services' commercial paper from US$88 billion in Q3 2008 to US$60 billion today. GE has also has raised 64% of its long-term funding for 2009. The company has US$48 billion in cash on hand.
ENDS