GE cuts Dividend 10 cents

General Electric (GE) announced today that they will cut their dividend 10 cents down to 31 cents a share. This is due to the companies lack of revenue and lack of cash on hand. Compared to other companies GE is still in quite a favorable decision. They are endorsed by Warren Buffet who bought a large amount which is always a good sign. Despite having a terrible 2008 Fiscal year they are in a position to improve dramatically in the next coming years. With Obama’s support they could be the catalyst company to lead the new wave of the reformation in the Energy Sector. Obama loves American companies and would be more than happy to give GE such an opportunity. With the stock price currently at $8.95 i would take the time in watching this stock. If it slips in the upcoming weeks pull the trigger as it is at such a discount (52 WK High $38.52) yet has such potential to improve in the coming future. Watch it and if you are like me and think Energy is a new up and coming American industry then pull the trigger.

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