General Electric (GE) Announces New $50B Stock Repurchase Plan

April 10, 2015 6:36 AM EDT

With today's asset sale news, General Electric (NYSE: GE) announced its board authorized a new repurchase program of up to $50 billion in common stock, excluding the Synchrony exchange.

From the release, "There is potential to return more than $90 billion to investors in dividends, buyback and the Synchrony exchange through 2018. The exits of the targeted GE Capital businesses should release approximately $35 billion in dividends to GE (subject to regulatory approval), which, under GE’s base plan, are expected to be allocated to buyback; this is in addition to the impact of the Synchrony exchange and ongoing dividends. The GE Board has authorized a new repurchase program of up to $50 billion in common stock, excluding the Synchrony exchange. GE expects to reduce its share count to 8-8.5 billion by 2018. These actions would still allow room for opportunistic “bolt on” acquisitions in GE’s core markets. GE also said it plans to maintain its dividend at the current level in 2016 and grow it thereafter."



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Dividends, Hot Buybacks, Hot Corp. News, Hot Dividends, Stock Buybacks, Trader Talk

Related Entities

Stock Buyback