YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Struggling conglomerate General Electric announced Tuesday it's cutting its dividend to 1 cent after third-quarter earnings fell short of expectations.
The company reported adjusted earnings of 14 cents, below the 20 cents analysts were looking for.
Revenue was $29.6 million, less than the $29.9 million analysts anticipated.
Starting in December, GE plans to reduce its quarterly dividend to 1 cent in order to retain $3.9 billion in cash per year.
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