NEW YORK, June 25 (Reuters) – Banks announced increased dividends and some announced new share buy-back programs on Wednesday, after the Federal Reserve released results of its stress test. • Citigroup will increase its quarterly dividend 12% to 67 cents and keep its multi-year $30 billion common stock repurchase program • Goldman Sachs’ common dividend […]
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Banks increase dividends after Fed stress test results
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NEW YORK, June 25 (Reuters) – Banks announced increased dividends and some announced new share buy-back programs on Wednesday, after the Federal Reserve released results of its stress test.
• Citigroup will increase its quarterly dividend 12% to 67 cents and keep its multi-year $30 billion common stock repurchase program
• Goldman Sachs’ common dividend will rise 11%, to $5.00 per share from $4.50, beginning next month
• Bank of America said it will define its quarterly dividend after a board meeting next month and is keeping its $40 billion stock repurchase program
• JPMorgan Chase & Co intends to increase its quarterly dividend to $1.65 per share from $1.50 and announced a new $50 billion common share repurchase program
• Morgan Stanley will increase its dividend by 15% to $1.15 per share, and its board authorized a multi-year $20 billion common equity share repurchase program
(Reporting by Tatiana Bautzer; Editing by Mark Porter)