The big banks announced their plans to boost capital return to shareholders after passing the annual stress test administered by the Federal Reserve this week.
JPMorgan said it was raising its quarterly dividend 8.7% to $1.25 per share and that it authorized a new $30 billion share repurchase program.
Morgan Stanley said it was boosting its dividend 8.8% to 92.5 cents per share and authorized a $20 billion repurchase plan. Citigroup said it was raising its dividend 5.7% to 56 cents per share and that it would"continue to assess share repurchases" on a quarterly basis. Bank of America said it was increasing its dividend 8% to 26 cents per share; its release made no mention of share repurchases.quarterly dividendit was raising its dividend 5.7% to 56 cents per share and that it would"continue to assess share repurchases" on a quarterly basis.the annual stress test administered by the Federal Reserve this week.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Regulators hit Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America over living will plansThe living wills are a key Federal Reserve and FDIC exercise mandated in the aftermath of the 2008 global financial crisis.
Read more »
Stanley Cup notebook: Okposo finally gets shot at Stanley Cup, McDavid back where his career startedKyle Okposo’s first Stanley Cup memory came as an 8-year-old boy, when he watched the Colorado Avalanche defeat the Florida Panthers in the 1996 Stanley Cup Final. That series — a quick sweep for the Avalanche, who won their first ever trophy — ignited Okposo’s love for hockey.
Read more »
'One of the strongest AI plays:' Morgan Stanley resumes Broadcom coverage at Overweight'One of the strongest AI plays:' Morgan Stanley resumes Broadcom coverage at Overweight
Read more »
Morgan Stanley CEO says AI could save financial advisers 10-15 hours a weekMorgan Stanley CEO says AI could save financial advisers 10-15 hours a week
Read more »
'A unique Nvidia proxy': Morgan Stanley names a global stock as its new top pickThe company could enjoy gross margins of 90%, according to the bank, which gave the stock 20% upside.
Read more »
Morgan Stanley's deep dive on AI's rate of changeMorgan Stanley's deep dive on AI's rate of change
Read more »