Does GE have a Share Repurchase Program?
During 2007, GE repurchased 357.9 million shares for a total of $13.9 billion. As part of an effort to further strengthen the GE Capital balance sheet GE announced suspension of its stock buyback plan on September 25, 2008, after repurchasing $3.5 billion of GE stock through the third quarter of 2008.
On July 23, 2010 the Board of Directors extended the existing share-repurchase plan, which would have otherwise expired on December 31, 2010, through 2013. Repurchases under the existing $15 billion repurchase plan were suspended on September 25, 2008. The plan currently has approximately $11.6 billion in remaining authorization.
