GE makes it official, lowers dividend to a penny

made its painful dividend cut official on Friday, with the company‘s board of directors authorizing the payout to be cut to just a penny a share.

GE first announced in late October it would be to 1 cent a share, the second dividend cut announcement this year for the beleaguered company, which was once treasured by regular shareholders for its payout. That decision is one of the many reasons the stock is down by nearly 60 percent this year.

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