GE raises dividend, expands share buyback

INDUSTRIAL conglomerate General Electric is raising its quarterly dividend by 12 per cent while extending and expanding its share repurchase plan.

The new quarterly dividend is 19 cents, up from 17 cents. The dividend will be paid on January 25 to shareholders as of December 24.

The board of Fairfield, Connecticut-based General Electric Co. is also extending GE's stock buyback plan through 2015.

It's authorising up to $US10 billion ($A9.54 billion) for additional shares.

The plan had $US4.9 billion available for repurchase at the end of the third quarter.

GE manufactures products such as jet engines and refrigerators and provides equipment and services to a growing roster of energy companies.

GE shares rose 2 cents to $21.64 in morning trading.

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