EZB muss nun reagieren
Morgan Stanley, the Wall Street powerhouse, doubled its quarterly dividend and announced a new $12 billion stock repurchase plan.
The bank said Monday in a press release that its dividend will jump to 70 cents a share starting in the third quarter, and it would buy up to $12 billion of its own stock through June 2022. Shares of Morgan Stanley popped 4%.
“Morgan Stanley has accumulated significant excess capital over the past several years and now has one of the largest capital buffers in the industry,” CEO James Gorman said in the release. “The action taken by the Board reflects a decision to reset our capital base consistent with the needs we have for our transformed business model.”
Meanwhile, larger rival JPMorgan Chase boosted its dividend to $1 per share from 90 cents, according to the bank. JPMorgan said it “continues to be authorized” to tap an existing share repurchase plan.
Bank of America said its dividend would rise to 21 cents a share from the previous 18 cent level. In April, the bank announced a $25 billion share repurchase plan. |