I am continuing to hold my position in GE on the hopes that more people will see value in GE. I would add to my position if I weren’t over invested at 150% of my planned budget allocation. I’ll admit, I went a little overboard on GE after Warren Buffet bought some of its preferred.
General Electric shares rose more than 4.7% Tuesday after the industrial giant told investors it aims to resume increasing the dividends its pays to shareholders some time next year.
“We’re going to plan to resume growing the dividend again in 2011 at the GE parent level,” GE Chief Financial officer Keith Sherin told investors attending a Goldman Sachs investor conference in Boston. “We’re not putting a number on it, but we do expect to grow the dividend in 2011.”
Last February, GE cut its dividend in half, something it hadn’t done since the 1930s. The stock got hammered as you can tell from this chart:
Still GE Capital is still on the minds of many investors. GE CFO Keith Sherin told investors that ‘at some this loss cycle rolls over.” GE Shares are up 85% since last February.