General Electric Co. will buy back an additional $10 billion of shares and increase its dividend for the fifth time since 2010 as Chief Executive Officer Jeffrey Immelt rushes to return cash to investors.
GE raised the payout by 2 cents, to 19 cents a share, payable on Jan. 25, the Fairfield, Conn.-based company said yesterday in a statement. The world’s largest maker of jet engines, medical imaging equipment and diesel locomotives slashed the payout to 10 cents a share in 2009 to save cash during the financial crisis.