Yesterday General Electric (GE) announced a 4.0% increase in its quarterly dividend. The dividend is raised from $0.23 to $0.24. The dividend pay date is January 25, 2017 to shareholders of record on December 27, 2016 (ex dividend December 22, 2016).
Chairman and CEO Jeff Immelt stated:
“This dividend increase is in line with our multi-year capital allocation framework to have a dividend payout ratio of 45-50% and then grow the dividend in line with earnings. We are positioned for long-term transformational growth across our Digital Industrial businesses.”
The new dividend amount represents an annualized dividend amount of $0.96 per share, up from $0.92. The dividend yield on current price is 2.90 %. My Vrijheid Fonds consist of 60 shares of GE, my annual dividends will increase by $2.04 after taxes. This increase will take effect in 2017.
My projected annual total amount (2016) from my shares of GE will be $42.24 after taxes. I love every dividend increase! DGI at work!