Reuters forecasts GE dividend move, ahead on JPM cut

Reuters exclusively reported GE Vice Chairman John Rice saying on Feb. 24 that the company’s board would take measured steps on its dividend — a topic of intense concern on Wall Street. GE shares rose 5 percent — adding $4.4 billion to the company’s market capitalization — in the first half-hour of trading following Reuters headlines. GE later cut its dividend. Reuters headlines on the unexpected move by JPMorgan Chase on Feb. 24 to cut its dividend by 87 percent beat Bloomberg by more than 30 seconds and pipped Dow Jones to the post by 3 seconds. The bank’s share price rose more than 5 percent after the news.