GE (NYSE:GE) has increased its quarterly dividend, the company announced today in an official press release. The payout will increase by $0.02, to $0.19 per share of common stock. It is payable to shareholders of record as of December 24, and will be paid on January 25.
GE's board also authorized an expansion of the size and time frame of the company's stock repurchase program. According to the release, $10 billion more has been approved for buybacks, and the program will run through 2015. Its previous deadline was end-year 2013, and it had around $4.9 billion in remaining authorization.
The dividend increase marks the third time in five years that the company has lifted its quarterly payout.
Eric Volkman has no positions in GE. The Motley Fool owns shares of GE. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.