Wall Street ticks up as dividend payers rise, GE slashes payout | Reuters

Reuters| Mon Nov 13 13:00:03 EST 2017
NEW YORK (Reuters) - U.S. stock indexes rose on Monday as a sharp drop in General Electric shares was more than offset by gains in high dividend-paying sectors including consumer staples and utilities. General Electric (GE.N) slashed its dividend by 50 percent and cut its profit forecast while unveiling a plan that narrowed its focus on aviation, power and healthcare. Shares of the industrial conglomerate fell 7.2 percent to $19.02 after touching a more than five-year low of $18.75. “People who were in GE for their dividend may be looking for a better place to put their money,” said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh. Utilities .SPLRCU and co..

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