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Actionable news in GE: GENERAL ELECTRIC COMPANY,

General Electric cutting dividend by 50% to 12 cents a share from 24 cents a share

General Electric said it was cutting its dividend in half, a move that could cause many long-time shareholders in the 125 year-old conglomerate to flee, but also free up much needed capital to fund a turnaround for the one-time American bellwether.

GE said it was cutting its quarterly payout to 12 cents a share from 24 cents a share.

"We understand the importance of this decision to our shareowners and we have not made it lightly," said John Flannery, chairman and CEO of GE, in a statement. "We are focused on driving total shareholder return and believe this is the right decision to align our dividend payout to cash flow generation."

The shares, which are down 35 percent for the year, rose by 16 cents in light premarket trading Monday following the announcement.

This story is developing. Please check back for updates.


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