Big banks are boosting dividend payouts in the wake of Fed stress-test results
Major U.S. banks including Morgan Stanley and JPMorgan Chase & Co. announced dividend increases late Friday, in the wake of the results of the Federal Reserve’s latest bank stress tests earlier this week.
“We continue to maintain a fortress balance sheet with strong capital levels and robust liquidity,” Dimon added. Wells Fargo WFC, +0.54%, for its part, said it will increase its dividend to 35 cents a share, up from 30 cents a share, subject to board approval. It said it has the capacity to undertake a share buyback, “which will be routinely assessed as part of the company’s internal capital adequacy framework that considers current market conditions, potential changes to regulatory capital requirements, and other risk factors,” without elaborating further.
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