GE Boosts Dividend 4.3%

General Electric Co. said Friday that it increased its quarterly dividend by 4.3%, or a penny per share, to 24 cents.

This is the first increase since December 2014, when the company also raised the payout by 1 cent to 23 cents. In total, the company plans to return around $30 billion to shareholders this year.

At the current stock price of $31.59 in midday New York trading, the new annual dividend rate implies a dividend yield of 3.02%, compared with the aggregate dividend yield for the Dow Jones Industrial Average of 2.34%.

Earlier this year, the Boston-based company cut its full-year sales outlook after reporting slowing sales and profit in its third quarter on continued weakness in its gas and oil business.

Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

December 09, 2016 13:55 ET (18:55 GMT)

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