RELATED: Does UD want to build more campus facilities like the ones for GE and Emerson?
The changes will help to create a “simpler, more focused GE,” according to a report released to investors Monday morning. The report shows that GE will double down on its aviation, power and health care device businesses in order to improve the company’s cash flow, the report states.
The company also announced that next month it will cut its dividend in half, from from 24 cents to 12 cents per share. GE’s dividend had grown too large compared to the amount of money the company was bringing in, according to the report.
RELATED: Sinclair to help train pilots for PSA airlines with new cadet program
Ohio’s largest manufacturing employer, GE Aviation makes commercial and military jet engines and parts. GE Aviation employs more than 9,000 people in southwest Ohio, including its plant in Evendale. Worldwide, the company employs approximately 44,000 people at more than 80 locations.
GE Aviation opened its EPISCenter in Dayton in 2013. The research facility is a partnership with the University of Dayton that studies electrical power systems.
FIVE FAST READS
• Visa probe may have cost Wright State millions in foreign student tuition
• Whaley wants to offer free community college if she’s elected governor
• Sinclair’s overwhelming voter approval ‘a great birthday present’
• Wilberforce U. launching new center for entrepreneurship, leadership
About the Author