Diversified conglomerate General Electric Co. (GE) said that the Board of Directors of GE Capital Corp., or GECC, has declared a quarterly dividend of $475 million payable to its parent GE in the second quarter 2012. 2012 dividend payments, which are subject to GECC Board approval, are planned at 30% of GECC's total 2012 earnings.
In addition, GECC plans a $4.5 billion special dividend to GE in 2012, subject to GECC Board approval. The historical dividend was suspended in 2009 during the financial crisis.
GE also plans to accelerate its common stock buyback starting in the second quarter, depending on market conditions.
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