General Electric (GE) Is Less Valuable When It Can't Pay A Dividend

General Electric (GE) closed at $10.10 down 8 cents and it made a new multi-year low. It's the first time it's been below ten dollars in 8 or 9 years. The reason that GE got clobbered by 9 percent yesterday was because they had announced the evening before that they were eliminating their dividend and so obviously GE is a lot less valuable when it can't pay a dividend.