General Electric Co. said Friday that it raised its quarterly dividend by 4.3% to 24 cents a share from 23 cents a share. The new dividend will be payable Jan. 25 to shareholders of record on Dec. 27. At the current stock price of $31.59, up 0.2%, the new annual dividend rate implies a dividend yield of 3.10%, compared with the aggregate dividend yield for the Dow Jones Industrial Average of 2.34%. “We have a disciplined capital allocation strategy with a plan to return approximately $30 billion of cash to shareholders this year,” said Chief Executive Jeff Immelt. “This dividend increase is in line with our multi-year capital allocation framework to have a dividend payout ratio of 45-50% and then grow the dividend in line with earnings.” The stock has gained 1.4% year to date, while the Dow has climbed 12.9%.
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