The Silver Ink

Monday, April 12, 2021
Log in
  • United States & World
  • Techie
  • Business & Company News
  • Discovery
  • Lifestyle

Pages

  • About The Silver Ink
  • Advertising
  • Contact US
  • Investor Relations
  • Our Team
  • Privacy Policy GDPR
  • Sec Disclosure
  • Terms of Use

Recent Posts

  • David The Puzzle Man Butler Uses His Newfound Hobby to Help Community June 29, 2018
  • Diamond Thief Arrested in Chicago Days After Stealing $133,000 Worth of Precious Stones June 29, 2018
  • Colorado Goth Metal Band Founder Stabs Homeless Person to Death in Back Alley June 28, 2018
  • Irate South Carolina Woman Cusses Out Black Teens at Pool, Assaults Sheriff’s Deputy June 27, 2018
  • Georgia Couple Arrested For Keeping Mentally Challenged Daughter Locked Inside Room for Months June 27, 2018
  • Washington Man Paralyzed After Run-in With Gun-Toting Carjacker June 26, 2018
  • Autistic Boy Admitted to Emergency Room After Being Impaled By A Plank of Wood June 25, 2018

GE plans selling most finance unit, USD 90 billion return to investors

April 11, 2015 By Stephanie James Leave a Comment

General-Electric_1

US industrial giant General Electric Co on Friday announced that it is going to shed most of its finance unit and return approximately USD 90 billion to the shareholders as it has gradually transformed into a “simpler” industrial business than an unwieldy hybrid of manufacturing and banking sectors.

Making the announcement on Friday, the company gave a brief outlook of its restructuring plan that included buying back nearly USD 50 billion of its shares, divesting additional GE Capital operations and selling nearly USD 30 billion in real estate assets in the next two years.

Tom Donino, equity trading co-head at First New York Securities, said, “The stock has been under-owned by institutional investors, and that’s going to change now.”

The company’s repurchase program will be partly funded by USD 35 billion via money returned from GE Capital. The program is considered as the second largest in the history after USD 90 billion plan made by tech giant Apple Inc.

GE possessed 10.06 billion outstanding shares as of January 31. The company said that it has expected to lower that by as much as 20 percent to reach between 8 billion and 8.5 billion by 2018.

Overall, GE said that it has planned to shed USD 275 billion in GE Capital assets.

According to the firm, it has planned keeping USD 90 billion in finance assets directly associated with selling its products like medical equipment, jet engines, electrical grid gear and power generation.

The company has USD 1.70 to USD 1.80 per share in forecast earnings for the current year, including 60 cents from GE Capital. In a conference call with the analysts, the company’s executives said that they expect profit to be substantially higher in 2018.

The contracting GE Capital will slash down the earnings by 25 cents per share, the executive said adding that the stock buybacks can offset that impact.

Keith Sherin, the finance unit’s chief, said that the American industrial giant already had a remarkable number of inquiries about the units of GE Capital before the announcement made on Friday.

Over a decade, the shares of General Electric Co fell 23 percent; the S&P edged up 75 percent.

Filed Under: Business & Company, Capital Markets Tagged With: GE Capital, GE shares, General Electric Co, Keith Sherin, Tom Donino

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 24 other subscribers

first humans who arrived in North America

First Humans Arrived In North America 10000 Years Earlier

January 17, 2017 By Dave Smith Leave a Comment

gold coin

Rare Gold Coin Found In a Toy Pirate Treasure

October 27, 2016 By Kyle Mills Leave a Comment

clothing material

Air conditioning could be replaced with clothing material that keeps you cool

September 2, 2016 By Carrie Davis Leave a Comment

proxima centauri star

Scientific Breakthrough – Habitable Planet near Proxima Centauri

August 27, 2016 By Dave Smith Leave a Comment

USS independence

Deep Sea Exploration Of World War II Vessel

August 23, 2016 By Dave Smith Leave a Comment

statue of Zeus

Ancient Zeus Sacrifice Skeleton Found In Greece

August 12, 2016 By Dave Smith Leave a Comment

white robot

Robot Exoskeleton Could Improve Life Of The Disabled

August 11, 2016 By Dave Smith Leave a Comment

Bird Fossil Holds Answers to Life After Dinosaurs

October 30, 2015 By Dave Smith Leave a Comment

Polar Bears Are Slowly Dying Due to Climate Change

September 17, 2015 By Stephanie James Leave a Comment

Study Shows Birds Also Fall in Love

September 15, 2015 By Jeff Suchon Leave a Comment

Man-made Climate Change Produces the Highest Temperatures Ever

September 14, 2015 By Dave Smith Leave a Comment

Researchers Discover Why Sweetgrass Is An Efficient Insect Repellent

August 19, 2015 By Jeff Suchon Leave a Comment

The Drinkable Book Could Be The Easiest Way To Clean Water

August 18, 2015 By Jeff Suchon Leave a Comment

Study Reveals Venomous Frogs Are More Dangerous Than Pit Vipers

August 8, 2015 By Kyle Mills Leave a Comment

Categories

  • Automotive & Aviation Industry
  • Business & Company
  • Capital Markets
  • Discovery
  • entertainment
  • Health
  • IT & Diversified Sector
  • Lifestyle
  • Nature
  • Science
  • Techie
  • Uncategorized
  • United States & World
  • World

Copyright © 2021 thesilverink.com

About · Privacy Policy · Terms of Use · Contact