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General Electric completes its transition into three separate companies, marking the end of an era for the industrial conglomerate and symbol of American business power.
General Electric completes its split into three distinct corporations, signalling the end of an era.
The aerospace and energy businesses of the industrial giant begin trading as independent entities on the New York Stock Exchange, following the earlier trading debut of its healthcare business on the Nasdaq.
CEO Larry Culp’s efforts to revitalize the company culminated in the breakup, which was aimed at addressing past struggles, including challenges faced during the 2008 financial crisis.
Once deemed “too big to fail” by the U.S. government, GE faced significant financial setbacks, including the near-bankruptcy of its profitable business, GE Capital, during the 2008 crisis.
A symbol of American industrial prowess, GE lost its place in the Dow Jones Industrial Average in 2018 and faced a dividend cut as it grappled with successive crises.
Culp initiated discussions about the breakup in 2021, a move that had eluded previous leadership despite the company’s diversification into various businesses.
Culp, now CEO of GE Aerospace, will participate in the NYSE opening bell ceremony alongside Scott Strazik, CEO of energy business Vernova.
Industrial analysts reflect on the significance of GE’s transformation and estimate that GE Aerospace’s market value will be over $100 billion post-spinoff.
GE Aerospace forecasts strong operating profit in 2028 and outlines a dividend payout strategy, signaling confidence in its future performance.
GE Aerospace anticipates robust demand for its products and services, aiming for an initial dividend payout representing 30% of net income.
The businesses will trade on the NYSE under GE and GEV symbols, respectively, reflecting their newfound independence.
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