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Got a Raise Friday

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December 15, 2012 – Comments (1) | RELATED TICKERS: GE

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.

Fool on!

Russ

1 Comments – Post Your Own

#1) On December 15, 2012 at 12:57 AM, HarryCarysGhost (99.75) wrote:

Hey Russ, I started buying at $32.

One day GE hit $6.66 and I thought that was an appropriate time to buy.

Cheers.

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