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GE Vernova Stock Hits Record After Turbine Maker Raises Outlook, Doubles Dividend
GE Vernova stock soared after the maker of gas turbines and other power equipment boosted its growth outlook and planned increased payouts to investors.
Shares in the GE spinoff, which has been riding an AI-driven boom in power demand, hit a record intraday high of $725 on Wednesday morning. The stock was recently trading around $706, with its 13% gain leading the S&P 500.
The company doubled its annual dividend to $2 a share and increased both its share buyback program and its free cash flow guidance.
It also said it expects $41 billion to $42 billion in revenue next year and at least $52 billion in revenue in 2028, up from a previous forecast of $45 billion.
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