GE CUTS DOWN ON DIVIDEND PAYMENTS
Tuesday, February 7th, 2012For the first time since 1938 the general electrics company U.S.A was forced to cut down it’s dividend payment due to it’s poor performance in the first quarter of this economic year. The general electric company which referred to as the lifeline of U.S economy faced a 35% fall in its quarterly profit. The profits declined to only $2.4 bn when compared to last years profits of $4.4 bn. This downslide in its growth is mainly attributed to the current global economic situation which affected sales of all of the products. Also the GE capital which is the financial unit of the GE also suffered losses due to drop of sales and decrease in the values of goods.