GE redeems $3B of preferred stock, expects $100M annual savings

GENERAL ELECTRIC CO

GE redeemed 3,000,000 shares of Series D Preferred Stock at $1,000/share on March 15, 2023.
Expected net annual savings of approximately $0.1 billion from reduced dividend payments.
Dividends on redeemed shares ceased after March 15; regular dividends paid separately.
Redemption funded from cash on hand; foregone earnings partially offset the savings.

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