GE was founded in 1892 with the merger of two businesses, Edison General Electric Company, (founded by Thomas Edison) and The Thomas-Houston Company. (www.ge.com). Today many of Edison's initial businesses are still in full swing at General Electric. GE offers a full line of products to the public. The businesses that go under the General Electric umbrella is: Commercial Finance, Consumer Finance, Consumer & Industrial (Appliances and Lighting) Energy, Healthcare, Infrastructure, Insurance, Transportation (Aircraft and Railway) and NBC. (www.ge.com) GE continues to acquire businesses the produce growth amongst their numbers.
Recently GE announced a record 15.6 billion dollars in earnings for 2003. In addition to this information 9 of the 11 businesses reported double-digit growth in 2003, ensuring stockholders that GE once again is a company here to stay. During the days of integrity, and immoral issues at corporate level, GE continues to be voted the most respected corporation in the world.
This is the sixth straight year that GE has received this award. This year GE ranked number 1 in the fields of integrity, corporate governance, and creating shareholder social responsibility. (www.med.home.ge.com)
As per the chart above it is easy to see that GE continues to increase in cumulative dividend growth year after year. Some of the financial highlights for 2002 were $131.7 billion in revenue, Net earnings of $14.1 billion, International Revenue of $52.9 billion and Total Assets of $575.0 billion. Previous years are as follows:
Year Consolidated Revenues Earnings Per Share Cumulative Cash Flow
1997 $89 Billion $.83 $30 billion
1998 $100 Billion $.96 $44 billion
1999 $110 billion $1.02 $53.8 billion
2000 $132 billion $1.32 $68.2 billion
2001 $125.9 billion $1.41 $84.9 billion
Rewards can be used in many different ways. For instance some or a lot of people in...