GE announced a new quarterly dividend of $0.23 up from $0.22. This represents a 4.5% increase compared to last year. The new dividend represents a yield of 3.69% based on Friday’s closing price of $24.89.
GE is the largest holding in my portfolio. I hold 375 shares and this increases by projected annual dividends by $15.00, from $330.00 to $345.00. The share price has been under pressure for a while now and it has been hovering between $24 and $27 for a long time. My last GE purchase was at $25 and seeing the current price below that is tempting. But I probably will not add since GE is already the largest in my portfolio and I would like to add to my other holdings to balance the weight.
Even though the dividend increase is not great, it is better than nothing. With the stock price under pressure, I was not sure if there would even be an increase.