Before Friday’s opening bell, General Electric Company (GE ) reported that it will sell the majority of its assets of GE Capital.
GE has confirmed that it will sell most assets of GE Capital for $26.5 billion. The company noted that the majority of the real estate assets will be purchased by Blackstone (BX) and Wells Fargo (WFC ). GE also reported that it has received letters of intent from buying interested in an additional $4 billion in assets.
The company said that it will have the potential to return $90 billion to shareholders in the form of dividends and share buy backs through 2018. The sale of GE Capital’s assets should provide the company with an extra $35 billion for dividend payouts.
The Bottom Line
Shares of GE were up $1.71, or 6.65% during premarket trading Friday. The stock is up 1.82% YTD.3
General Electric (GE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.