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.

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