GE Capital Corp's board has approved a plan to pay $6.5 billion in dividends and a further $4.5 billion in special dividends to parent General Electric Co in 2013.

"This announcement is consistent with our goal to reduce the overall size of GE Capital and for it to return significant cash to GE," GE Chairman and CEO Jeff Immelt said in a statement.

(Reporting by Mridhula Raghavan in Bangalore)