The Board of Directors of GE raised the company’s quarterly dividend 5%, or $0.01 per outstanding share of the company’s common stock, to $0.23 per outstanding share of the company’s common stock. The board declared that the dividend is payable January 26, 2015 to shareowners of record at the close of business on December 22, 2014. The ex-dividend date is December 18, 2014.

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“We are pleased to increase GE’s quarterly dividend for the seventh time in five years,” said GE chairman and CEO Jeff Immelt. “Returning cash to shareowners remains our top priority, while we continue to invest in long-term growth. Alongside our strong operational outlook, today’s announcement reflects our balanced and disciplined approach to capital allocation.”