GE Vernova, the US manufacturer of power generation equipment, doubled its dividend and increased its scope for share buybacks while increasing earnings projections amid soaring demand for electricity.
At its investor day in New York Tuesday, the company estimated future earnings beyond 2028 to $52 billion from $45 billion and raised its adjusted earnings before interest, taxes, depreciation and amortization margin for the same period to 20% from 14%. The company raised its per share quarterly dividend to 50 cents and increased share repurchase authorization to $10 billion from $6 billion.
