The multinational conglomerate General Electric Company (GE) announced the date for its 1-for-8 reverse stock split to be effective post-close of trading on July 30. The shares will start trading on a split-adjusted basis on August 2. Shares closed down 1.7% at $12.78 on June 18. Over the years, GE has gradually divested several businesses, including nearly all of GE Capital, without making any related alterations to reduce the share count. (See GE stock chart on TipRanks) Carolina Dybeck Happe, the company’s Senior VP, and CFO said, “The reverse stock split will better align GE’s number of shares outstanding with companies of our size and scope.
https://www.tipranks.com/news/ge-announces-date-of-1-for-8-reverse-stock-split-declares-regular-quarterly-dividend
General Electric (NYSE:GE)
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General Electric (NYSE:GE)
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