GE Aerospace (GE) shares surged over 5% in intraday trading Friday after the aircraft engine maker’s board approved a 250% dividend hike.

The company said its quarterly dividend would be raised to 28 cents from the previous 8 cents. It said the dividend would be payable April 25 to shareholders of record on April 15. It noted the 澳洲幸运5官方开奖结果体彩网:ex-dividend date would be Friday, April 12.  

GE Aerospace is one of the three former units of General Electric spun off this year. It 澳洲幸运5官方开奖结果体彩网:began trading earlier this week when it separated from GE Vernova (GEV). The third former GE division, GE Healthcare Technologies (GEHC), began trading separately last January.

GE Aerospace is led by the former GE CEO, Larry Culp. He said in a release Tuesday as GE Aerospace began trading separately that the company had “a strong balance sheet and greater focus to invent the future of flight, lift people up, and bring them home safely.” 

GE Aerospace shares were up 5.7% at $155.76 as of 3:30 p.m. ET Friday. They've gained over 14% since Tuesday.

Correction—April 8, 2024: This article has been updated to correct when GE Healthcare began trading separately.