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.
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