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General Electric

General Electric cuts its dividend by half and plans to dramatically narrow its focus

General Electric cuts its dividend by half and plans to dramatically narrow its focus

General Electric Co. slashed its dividend in half and will try to vastly narrow its focus to three key sectors — aviation, healthcare and energy — as the conglomerate with early ties to Thomas Edison considers shedding even its historic lighting business.

The company also pulled back on profit expectations Monday and shares slumped 7.5% as of about 10 a.m. Pacific Time, pulling down the entire industrial sector.

New Chairman and Chief Executive John Flannery said the company is weighing the future of its transportation, industrial and lighting businesses so that it can focus more intently on its most profitable divisions.

GE's quarterly dividend is being cut to 12...

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