GE to cut quarterly dividend

General Electric plans to issue a dividend of 12 cents per share, half of what was expected.

“The dividend remains an important component of GE’s capital allocation framework. With this action and others that we will be discussing, we are acting with urgency to make GE simpler and stronger to drive growth and create more value for our shareowners,” said John Flannery, chairman and CEO of GE.

GE recently reported adjusted quarterly earnings of 29 cents per share, well below the 49 cents per share analysts had expected.

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