GE Says It Will 'Evaluate' Dividend for Second Half

General Electric will "evaluate" its planned dividend for the second half of the year in light of the slumping global economy, the US conglomerate said on Friday.

GE is the parent company of CNBC.

"The board and I will continue to evaluate the company's dividend level for the second half of 2009 in light of the growing uncertainty in the economy," said Chief Executive Jeff Immelt, in a statement. "Our fundamental priorities will remain keeping the company safe and secure in the current environment and investing in attractive growth opportunities."

The conglomerate confirmed it would pay its second-quarter dividend of 31 cents per share on April 27 to shareholders of record on Feb. 23.

Earlier Friday, a JP Morgan analyst suggested that if GE loses its coveted triple-A credit rating, which many on Wall Street regard as likely, its $1.24-per-share annual dividend may be next to go.

In a note to clients, Stephen Tusa said he regarded the loss of the U.S. conglomerate's AAA debt ratings from Standard & Poor's and Moody's Investors Service to be "nearly a foregone conclusion."

Moody's last month joined S&P in putting GE's credit ratings on review. A downgrade could make it more difficult and costly for its GE Capital finance unit to borrow money.

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