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Can Pac Swire
The Fed came to the conclusion that the banks could survive a significant economic downturn, and as a result, they intend to release excess capital to shareholders.
JPMorgan Chase & Co. intends to increase its quarterly dividend to $1.25 per share from $1.15 (up 8.7%); Morgan Stanley plans to increase from 85 cents to 92.5 cents (up 8.8%); Goldman Sachs Group plans to increase from $2.75 to $3; Citigroup plans to increase from 53 cents to 56 cents (up 5.7%); Bank of America Corp. plans to increase from 26 cents to 26 cents (up 8.3%); and Wells Fargo & Co. plans to increase from 35 cents to 40 cents (up 14.3%).
At that, the biggest bank in the United States, JPMorgan, authorized a fresh repurchase plan worth up to $30 billion for its stock, and Morgan Stanley verified a buyback plan with no time limit for up to $20 billion.
Citi stated that it "will continue to evaluate the conditions for buying back its shares from quarter to quarter".
source: cnbc.com
JPMorgan Chase & Co. intends to increase its quarterly dividend to $1.25 per share from $1.15 (up 8.7%); Morgan Stanley plans to increase from 85 cents to 92.5 cents (up 8.8%); Goldman Sachs Group plans to increase from $2.75 to $3; Citigroup plans to increase from 53 cents to 56 cents (up 5.7%); Bank of America Corp. plans to increase from 26 cents to 26 cents (up 8.3%); and Wells Fargo & Co. plans to increase from 35 cents to 40 cents (up 14.3%).
At that, the biggest bank in the United States, JPMorgan, authorized a fresh repurchase plan worth up to $30 billion for its stock, and Morgan Stanley verified a buyback plan with no time limit for up to $20 billion.
Citi stated that it "will continue to evaluate the conditions for buying back its shares from quarter to quarter".
source: cnbc.com
