GE's Big Four Day Move: $12.92 Billion Market Cap Gain

General Electric (NYSE:GE) is one of the largest companies on the planet, and its shares have gained 8.7% since Tuesday (7/20).  That may not seem like much these days when stocks swing 10 to 20% in a single session, but that move for GE from $14.50 to Friday's close of $15.71 equates to a $12.92 billion gain in market cap.

GE had an incredible Friday after announcing they were increasing their quarterly dividend 20% from $0.10 per outstanding share to $0.12 which is October 25, 2010 to shareowners of record at the close of business on September 20, 2010.  The Big Pimpin' continues Masters.

Mastery Sponsors - Become one Today

GE also said on Friday they would be extended the existing share-repurchase plan, which would have otherwise expired on December 31, 2010, through 2013. Repurchases under the existing $15 billion repurchase plan were suspended on September 25, 2008. The plan currently has approximately $11.6 billion in remaining authorization. The Company will resume repurchases under the plan this quarter.

(MarketWatch.com) "We are able to restore the GE dividend at a historical payout level for 2010 earlier than previously anticipated and to extend our share buyback program because of continued strong cash generation, recovery at GE Capital, and solid underlying performance in our Industrial businesses through the first half of 2010," GE CEO Jeff Immelt said. "In addition, the Company continues to plan on capitalizing on strategic and financially attractive inorganic growth opportunities.

"We are executing well, progressing on our plans to make GE Capital a smaller, more competitive specialty-finance company, and continuing to generate strong cash flow," Immelt said. "This gives us the flexibility to allocate capital for growth and shareholder value, while keeping GE safe and secure."

SOURCE; http://www.marketwatch.com/story/ge-board-of-directors-authorizes-increase-in-dividend-and-extension-of-share-repurchase-program-2010-07-23?reflink=MW_news_stmp