On Friday, Shares of General Electric Company (NYSE:GE), lost -2.38% to $24.59.
General Electric Company declared that it has accomplished the formerly declared sale of its U.S. Sponsor Finance business and a bank loan portfolio, representing aggregate ending net investment (ENI) of about $10 billion, to Canada Pension Plan Investment Board (CPPIB) in a transaction valued at more than $11 billion.
“We are excited to complete the sale of Sponsor Finance to CPPIB,” said Keith Sherin, GE Capital chairman and CEO. “As one of the first major closings in this process, it is an important milestone as we continue to execute on our plan to sell most of the assets of GE Capital,” added Sherin.
General Electric Company (GE) 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.
Shares of ConocoPhillips (NYSE:COP), declined -3.43% to $45.39, during its last trading session, hitting its lowest level, as U.S. oil prices traded below $40 a barrel for the first time since the 2009 financial crisis, ending 2 percent lower on Friday on signs of U.S. oversupply and weak Chinese manufacturing and notching the longest weekly losing streak in almost three decades, according to Reuters.
U.S. crude dipped below the $40 threshold following weekly data that showed U.S. energy firms added two oil drilling rigs last week, the fifth enhance in a row. The rise in the number of rigs emerging after a second quarter lull in prices is adding to concerns U.S. shale production is proving slow to respond to falling prices, prolonging a global glut. Reuters Reports
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids worldwide.
Finally, Altria Group Inc. (NYSE:MO), ended its last trade with -1.44% loss, and closed at $53.94.
Altria Group declared that its Board of Directors voted to enhance Altria’s regular quarterly dividend by 8.7% to $0.565 per common share as compared to the previous rate of $0.52 per common share. The quarterly dividend is payable on October 9, 2015, to shareholders of record as of September 15, 2015. The ex-dividend date is September 11, 2015.
The new annualized dividend rate is $2.26 per common share, representing a yield of 4.1% based on Altria’s closing stock price of $54.73 on August 20, 2015.
Altria Group, Inc., through its auxiliaries, manufactures and sells cigarettes, smokeless products, and wine in the United States and internationally. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, Husky, and Marlboro Snus brand names.
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