General Electric GE Dividend Cut 2/27/09 - Haynesville Shale

General Electric ( GE ) will cut their dividend from .31 cents per quarter to .10 cents per quarter starting in the 3rd quarter of 2009. GE hasn't officially announced this but David Faber of CNBC has announced this.

GE will save 9 billion dollars a year with this dividend cut as it will come down from $1.24 per year to $0.40 per year.

GE stock spiked to $9.00 on this news but has since tanked to around $8.60 per share. Right now the stock appears to be all over the place but the spike to $9 brought the Dow Jones back to even on the trading day.

In other General Electric news today, February 27, 2009, GE is getting into the Haynesville Shale:

Natural gas processor and transporter Regency Energy Partners LP on Friday said that it, along with Alinda Capital Partners LLC and an affiliate of GE Energy Financial Services, are forming a joint venture to finance and construct Regency's Haynesville expansion project.

Dallas-based Regency will contribute to the joint venture its Regency Intrastate Gas System in North Louisiana, valued at $400 million, in exchange for a 38 percent general partnership stake in the venture. GE Energy Financial Services and Alinda Capital Partners LLC will contribute to the joint venture $126.5 million and $526.5 million in cash for a 12 percent and a 50 percent stake, respectively.

The North Louisiana pipeline will transport gas from the Haynesville shale formation, one of the fastest growing U.S. natural gas fields, which stretches through parts of Texas, Oklahoma and Louisiana.

Being the founder of www.oilshalegas.com, I have done extensive research on all the energy shale plays in the USA and Canada. The haynesville shale, located in Louisiana and East Texas, has the potential to be the biggest natural gas field in America. If one day we convert our vehicles to compressed natural gas, the haynesville shale has enough gas to support this. The Marcellus Shale is up there as well!

For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free