Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
GE Aerospace announces $15bn share buyback ahead of spin-off
(Sharecast News) - US conglomerate General Electric shares were on the rise on Thursday after GE Aerospace unveiled plans for a $15bn share buyback ahead of its launch as a standalone company next month. The news came as GE Aerospace - the unit that will be left after GE spins off its energy business GE Vernova into a separate entity on 2 April - hosted an investor day in New York, outlining plans to achieve $10bn in operating profit by 2028, up from an estimated $6-6.5bn this year.
"As a global leader in propulsion, services, and systems, we are delivering exceptional value for our customers with unrivaled technology and service, and the highest levels of operational reliability," said GE chair and chief executive Henry Lawrence Culp Jr.
"With FLIGHT DECK, our proprietary lean operating model, as the foundation, we will define flight for today, tomorrow, and the future," he said.
For 2024 and 2025, the company expects adjusted revenues to grow by low double-digit percentage rates, before normalising to a high single-digit compound annual growth rate between 2025 and 2028.
GE Aerospace said the $15bn share repurchase is part of its policy to return 70-75% of available funds to shareholders through dividends and buybacks, at an initial dividend payout ratio of 30% of net income.
GE first announced plans to separate the company into three brands in November 2021, with the spin-off of GE HealthCare taking place in January 2023.
The stock was up 2.7% at $163.74 by 1016 in New York.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
