GE Capital Corp. plans to pay parent General Electric Co. (NYSE: GE) $6.5 billion in dividends and another $4.5 billion in special dividends.
“This announcement is consistent with our goal to reduce the overall size of GE Capital and for it to return significant cash to GE,” Chairman and CEO Jeff Immelt said in a statement on Monday.
GE Capital paid a first-quarter earnings dividend of $447 million to GE on April 19, it said.
The finance unit ended the quarter with $68 billion in cash. GE added that it plans to return $18 billion cash to its shareholders in 2013, including repurchase of $10 billion of stock.
Joseph Lazzaro, U.S. Editor, served as Managing Editor of New York-based financial news web sites WallStreetEurope.com/WallStreetItalia.com, 1999-2004, and as Economics...