Welp, we all saw that one coming.
https://www.cnn.com/2018/10/30/investing/ge-dividend-cut-earnings-culp/index.html
"GE revealed on Tuesday worse-than-expected results and a $22 billion accounting writedown for its beleaguered power division. Culp plans to split up the power division to accelerate a turnaround. In a bid to fix GE's debt-riddled balance sheet, Culp announced the company will cut its quarterly dividend from 12 cents a share starting in 2019. By paying just a token dividend, GE (GE) will save about $3.9 billion of cash per year. Analysts had been anticipating a potential dividend cut, though not one of this magnitude."
Submitted October 30, 2018 at 07:41AM by OSUBedbugs https://ift.tt/2OXqt3v
