Got a Raise Friday
GE upped the dividend by 12% and announced an expanded buyback program. The new yield going forward is about 3.5% at Friday's close.
This is definitely good news, but GE has been a learning experience for me. First bought back before the financial crisis when it looked cheap. It proceeded to get cheaper, cut the dividend, diluted shareholders with a preferred and warrant deal with Berkshire, got cheaper still. My first buy was at $31. Then averaged down with my lowest buy in the twelves as I learned the meaning of 'value trap'.
I think the company is a decent buy although I'm still a little bit underwater with it. Wouldn't mind seeing a 5% or so pullback to add some more.