On Friday, General Electric Company (NYSE:GE)’s shares declined -1.31% to $30.25.
The Board of Directors of GE declared a $0.23 per share dividend on the outstanding common stock of the Company payable January 25, 2016 to shareowners of record at the close of business on December 21, 2015. The ex-dividend date is December 17, 2015.
The declaration is in line with the Company’s April 10, 2015 GE Capital Exit Plan declaration, which stated that GE will maintain its dividend at the current level in 2016 and grow it thereafter. GE remains on track in its plan to return more than $90 billion to investors in dividends, buyback and the Synchrony exchange through 2018.
General Electric Company operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment. Its Oil and Gas segment provides surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, reactors, industrial power generation, and auxiliary equipment.
Bank of New York Mellon Corp (NYSE:BK )’s shares dropped -3.55% to $40.77.
Market participants must recalibrate business and operational models if they are to accommodate and benefit from fundamental changes within wholesale funding markets, according to a new BNY Mellon research paper published in conjunction with PwC Financial Services.
The newly released paper – The Future of Wholesale Funding Markets: A Focus on Repo Markets Post US Tri-Party Reform – concludes that, while regulation and ongoing reform will continue to shape wholesale funding, strong market forces combined with the underlying structure and profitability of the business are set to impact repo volumes, participant interactions, and views of risks in the system.
The research takes as its starting point the modernization initiative to address the systemic risks inherent in the US repo market infrastructure that flowed from recommendations issued in 2009 by the Tri-party Repo Infrastructure Reform Task Force, sponsored by the Federal Reserve Bank of New York’s Payments Risk Committee. The four-year partnership that followed – involving BNY Mellon, its broker dealer clients, regulators, CCPs and institutional investors – saw the aim of the ‘practical elimination’ of intraday credit met.
The Bank of New York Mellon Corporation, an investment company, provides financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. It operates through two segments, Investment Administration and Investment Services.
At the end of Friday’s trade, Canadian National Railway (USA) (NYSE:CNI)‘s shares dipped -2.15% to $52.73.
CN (CNR.TO) (CNI), accompanied by the Honourable John McCallum, Minister of Immigration, Refugees and Citizenship, declared a $5 million donation to assist communities with the resettlement of Syrian refugees across Canada.
Minister McCallum said, “This is not a government project; this is a national project. Across the country, Canadians have been saying we need to do more to assist Syrian refugees. Recently I’d like to commend CN for its generosity in leading the way among Canada’s business community. I look forward to seeing others rise to the occasion.”
Halifax Mayor Mike Savage, co-chair of the Federation of Canadian Municipalities Task Force on Syrian Refugee Resettlement, said, “CN’s support during this humanitarian crisis is a very welcome contribution to assist address immediate and short-term needs of the thousands of refugees Canada will welcome in the coming weeks and months. We look forward to working with all orders of government on lasting solutions to the housing affordability crunch so that communities and newcomers are set up for success long-term.”
In the coming days, CN will join with the Canadian Chamber of Commerce and other Canadian business leaders to direct funds to assist with housing and other needs of Syrian refugees.
Canadian National Railway Company, together with its auxiliaries, engages in rail and related transportation business in North America. It offers transportation services that comprise rail, intermodal container, and trucking services; and supply chain solutions, counting warehousing and distribution, cargoflo, logistics parks, freight forwarding, customs brokerage service, industrial development, and marine services.