General Electric (GE) will raise its quarterly dividend to $0.24 per share. The increased dividend is payable January 25, 2017 to shareowners of record at the close of business on December 27, 2016.

"GE has continued to deliver for our shareholders in 2016," said GE Chairman and CEO Jeff Immelt. "We have a disciplined capital allocation strategy with a plan to return approximately $30 billion of cash to shareholders this year. This dividend increase is in line with our multi-year capital allocation framework to have a dividend payout ratio of 45-50% and then grow the dividend in line with earnings. We are positioned for long-term transformational growth across our Digital Industrial businesses."

Based on a stock price of $31.71 the new dividend yield for GE is 3.0%.

General Electric Company is a global digital industrial company. The Company's products and services range from aircraft engines, power generation and oil and gas production equipment to medical imaging, financing and industrial products.