Why GE may need to stop paying its dividend after 119 years [CNN]
GE Aerospace (GE)
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Source: CNN
Why GE may need to stop paying its dividend after 119 years General Electric has paid a dividend for 119 consecutive years, including during the Great Depression and the 2008 financial meltdown. Goldman Sachs thinks that streak needs to come to an end. GE ( GE ) is sitting on a mountain of debt accumulated by a series of bad deals , shrinking revenue and a huge pension shortfall . That debt is now making it difficult for the maker of light bulbs and jet engines to afford its dividend payout to shareholders. "We think the most prudent action would be for GE to consider suspending its common dividend for the next 18 months," Goldman Sachs analyst Joe Ritchie wrote in a report published on Thursday night. "GE is in a challenging situation," Ritchie wrote, adding that putting the dividend on hold would save the company $6 billion that can be used to pay down debt. Related: Inside the dismantling of GE Suspending the dividend would be the latest blow for GE, which is getting kicked
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