>> GE's slashing its quarterly dividend in half Monday, to $0.12 per share from $0.24, starting in December. A move that's expected to save the company about $4 billion in much needed cash annually. The dividend cut, only the third in GE's 125-year history, is part of new CEO John Flannery's first move to overhaul the slow-growing conglomerates.
He's also slimming down the company to focus on three of GE's biggest business lines, aviation, power, and health care. Flannery's overhaul will likely bring a sweeping sale of $20 billion of assets, marking a stark difference to the previous multi-business approach taken by former CEOs Jack Welch and Jeff Immelt.
But the overhaul getting panned by investors. Shares falling as much as 6% Monday, its lowest in more than five years. As Wall Street worries how a smaller GE will generate enough cash to justify its stock market value. Something that continues to fall. GE stock now almost down almost 40% this year making it the worst performing Dow component of 2017.