Industrial ETFs to Get Boost as GE Capital Strengthens Parent (GE)
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Shares of GE (NYSE: GE) are moving 2 percent higher this morning after announcing today that the Board of Directors of GE Capital Corporation (GECC) has declared a quarterly dividend of $475 million payable to its parent GE in the second quarter 2012 and announced a special dividend of $4.5 billion will hit this year.
In a comment to shareholders GE Chairman and CEO, Jeff Immelt, said, "This action demonstrates the strength of GE Capital and the significant actions taken to strengthen its liquidity, capital, asset quality and profitability."
The rise in the share price of GE is expected to move industrial ETFs such as Vangaurd's Industrial ETF (NYSE: VIS), Focus Morningstar Industrial ETF (NYSE: FIL), iShares Dow Jones U.S. Industrial ETF (NYSE: IYJ) and Industrial Select Sector SPDR (NYSE: XLI).
According to the latest data, GE had a 12.2 percent holding in VIS, 11.63 percent holding in FIL, 11.2 percent holding in IYJ and 10.98 percent holding in XLI.
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In a comment to shareholders GE Chairman and CEO, Jeff Immelt, said, "This action demonstrates the strength of GE Capital and the significant actions taken to strengthen its liquidity, capital, asset quality and profitability."
The rise in the share price of GE is expected to move industrial ETFs such as Vangaurd's Industrial ETF (NYSE: VIS), Focus Morningstar Industrial ETF (NYSE: FIL), iShares Dow Jones U.S. Industrial ETF (NYSE: IYJ) and Industrial Select Sector SPDR (NYSE: XLI).
According to the latest data, GE had a 12.2 percent holding in VIS, 11.63 percent holding in FIL, 11.2 percent holding in IYJ and 10.98 percent holding in XLI.
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