Shares of General Electric (GE) the diversified industrial company ended Friday's trading session unchanged. The company had some pleasant news for shareholders, including a dividend hike and an increase of its current share repurchase authorization.
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Just before the end of the calendar year, General Electric announcedthat it will boost payments to shareholders. GE announced a 12% hike in its quarterly dividend to $0.19 per share. The company furthermore increased its existing share repurchase authorization by $10 billion. Consequently, GE has roughly $14.9 billion under its current share repurchase authorization. The board of directors furthermore lengthened its plan until the end of 2015.
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