GE Vernova Inc ( GEV ) shares are rising in extended trading Tuesday after the company doubled its dividend and raised its multi-year outlook.

GE Vernova ( GEV ) stock is charging ahead with explosive momentum. Why are GEV shares rallying?

What Happened: As part of its 2025 Investor Update event, GE Vernova ( GEV ) announced a series of updates, including strong guidance looking out to 2028.

The company said its full-year 2025 revenue guidance of $36 billion to $37 billion is trending towards the higher end of the range. GE Vernova ( GEV ) also introduced 2026 revenue guidance of $41 billion to $42 billion and said it expects to reach $52 billion in annual revenue by 2028, up from a prior forecast of $45 billion.

“At GE Vernova, we are in the early chapters of an incredible value creation opportunity with a stronger financial trajectory ahead,” said Scott Strazik, CEO of GE Vernova ( GEV ).

“Electric power will be critical to unlocking economic growth in the decades ahead and we are well-positioned with our large installed base and platform of advanced solutions to serve this growing, long-cycle market.”

The company said it has signed 18 GW of gas turbine contracts quarter-to-date and expects to reach 80 GW of combined slot reservation agreements and backlog by the end of the year. Moreover, GE Vernova’s total backlog is expected to grow from $135 billion to $200 billion by the end of 2028.

GE Vernova ( GEV ) also anticipates at least $22 billion of cumulative free cash flow from 2025 to 2028, up from a prior outlook of at least $14 billion.

“We are executing efficiently, and there is more to come as we enter 2026 with significant momentum,” Strazik added.

GE Vernova ( GEV ) declared a quarterly dividend of 50 cents per share, payable in the first quarter of 2026. The company’s board also authorized an increase of its share repurchase program to $10 billion from $6 billion previously.

Beyond 2028, GE Vernova ( GEV ) said it’s well-positioned to deliver “substantially higher” returns, driven by a large and growing equipment and services backlog, more profitable gas power services revenue and expanded investments in AI, robotics and automation.

GEV Price Action: GE Vernova ( GEV ) shares were up 6.10% in after-hours, trading at $663.43 at the time of publication on Tuesday, per Benzinga Pro.

Read Next:

AI Data Centers Are Driving US Power Crunch—And Even Record Grid Spending Isn’t Enough, New Research Finds

Image: Saskia B/Shutterstock.com