February 27, 2009 / 6:47 PM / 11 years ago

GE to slash quarterly dividend to 10 cents a share

Jeffrey R. Immelt, chairman and chief executive of General Electric leads a discussion with business leaders in Los Angeles, California May 24, 2007. REUTERS/Fred Prouser

BOSTON (Reuters) - General Electric Co is cutting its quarterly dividend to 10 cents a share, from 31 cents, the CNBC cable network reported.

The move will save the U.S. conglomerate $9 billion a year, said CNBC, which GE owns.

Reporting by Scott Malone, editing by Leslie Gevirtz

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