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General Electric cuts dividend as it reports huge loss

General Electric cuts dividend as it reports huge loss

General Electric cuts dividend as it reports huge loss

General Electric announced another steep dividend cut on Tuesday amid continued losses and disclosed that US authorities had broadened an investigation into the company’s accounting. Chief Executive H. Lawrence Culp, who was tapped earlier this month to try to lead a recovery, also announced a plan to split up the troubled power division and signaled that a turnaround in would take time. Investors have been hopeful that Culp, an outsider to GE as the former chief executive of the conglomerate Danaher, will change the company’s fortunes and shares initially rose in pre-market trading after the results were released.

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