General Electric boosts dividend up 4.5 percent to 23 cents

General Electric Co. said Friday that it is increasing its quarterly dividend by 4.5 percent.

The Fairfield, Connecticut-based conglomerate's new dividend will be 23 cents, up from 22 cents. It will be payable Jan. 26 to shareholders of record as of Dec. 22.

GE shares fell 25 cents, or 1.2 percent, to $25.16 in afternoon trading.