General Electric Pimps 2011 Dividend (NYSE:GE)

General Electric (NYSE:GE) stepped up its game today,
the company plans to increase its dividend in 2011.  GE shares moved up 2.3% on the positive news and closed over $18 a share.

GE is big pimpin', spendin' cheese (Check 'em out now).

Chief Financial Officer Keith Sherin told analysts at a conference Tuesday that the Fairfield, Conn., company is "not putting a number on it, but we do expect to grow the dividend in 2011."

The company also sees potential for retiring its preferred stock and opportunities for stock buybacks.

GE cut its quarterly dividend in 2009 to 10 cents per share from 31 cents. It has remained at 10 cents per share since then.

BIG PIMPIN'
GE said it expects earnings per share for 2010 to be flat compared with the $1.03 per share it earned in 2009. Analysts surveyed by Thomson Reuters expect GE to earn 99 cents per share this year.

GE, which does not give quarterly earnings guidance, also said it expects tough comparisons in the first quarter due to losses of about $250 million related to coverage of the Olympics by its NBC unit and previous-year gains and tax items.

SOURCE: http://news.yahoo.com/s/ap/20100316/ap_on_bi_ge/us_ge_dividend