GE to receive $6.5B in dividends from finance arm
General Electric to receive $6.5 billion in dividends from GE Capital
FAIRFIELD, Conn. (AP) -- General Electric Co. said Monday that it will receive $6.5 billion in dividends from its finance arm this year as the conglomerate works on reducing the size of its GE Capital financial arm.
GE Capital Corp. plans to pay $4.5 billion in special dividends to its parent company in 2013. It made a first-quarter earnings-dividend payment of $447 million in April.
GE Chairman and CEO Jeff Immelt said in a statement that the payments are consistent with the company's goal to return significant cash to GE.
GE plans to return $18 billion in cash to shareholders this year, including $10 billion in buybacks.
Shares of GE added 9 cents to $23.55 in premarket trading.
