(GE dividend increase added to this update, share prices brought current.)
announced a 20% increase to its quarterly dividend, which helped the stock reverse early losses and trade higher.
said it has raised its quarterly dividend to 12 cents per share from 10 cents, citing continued strong cash generation, recovery at GE Capital, and "solid underlying performance in our Industrial businesses through the first half of 2010."
The dividend is payable Oct. 25 to shareowners of record at the close of business on Sept. 20. GE also extended its existing share-repurchase plan, which was set to expire on Dec. 31, through 2013.
payment from 31 cents per to 10 cents in February 2009 in order to save $9 billion annually.
The dividend announcement comes a week after GE reported second-quarter financial results. GE said it had a quaterly profit of 30 cents a share, coming in above the Thomson Reuters average estimate for earnings of 27 cents a share. Revenue was down 4.3% from a year ago to $37.44 billion, below the consensus target of $38.37 billion.
GE shares were lately up 27 cents, or 1.8%, to $15.48. The stock hit an intraday low of $15.03 earlier in the session.
Quicksilver Gas Services
( KGS) shares rose after the natural gas company announced a 7.7% increase to its quarterly distribution.
declared a second-quarter cash distribution of 42 cents per common unit, an increase of 3 cents per common unit. This distribution will be paid Aug. 13 on all common units to holders of record as of the close of business on Aug. 3, the company said.
The distribution announcement came as
said it will sell all of its interests in Quicksilver Gas Services to Crestwood Midstream Partners II for $701 million in cash.
Shares of Quicksilver Gas were rising by 3.9% to $22.16.
shares also traded higher after the water and electrical products maker upped its quarterly dividend to 21 cents per share from 19.5 cents. The dividend is payable on Aug. 16 to shareholders of record July 30. Shares of A.O. Smith were up 1.6% to $54.67.
Spectra Energy Partners
said it will raise its quarterly cash distribution by 2.4% to 43 cents per share. The cash distribution is payable on Aug. 13 to unitholders of record at the close of business on Aug. 3. Shares of Spectra Energy were up 0.2% to $35.12.
-- Written by Robert Holmes in Boston
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