A combination file photo shows Wells Fargo, Citibank, Morgan Stanley, JPMorgan Chase, Bank of America and Goldman Sachs.
Reuters
JPMorgan Chase said Monday that increasingly stringent capital requirements forced it to keep its dividend unchanged while rival banks announced bumps to their quarterly payouts.
Bank of America said that it was raising its quarterly dividend by 5% to 22 cents per share. Morgan Stanley said it was raising the payout 11% to 77.5 cents per share.
While all 34 banks involved in the Federal Reserve’s annual stress tests passed last week, analysts focused on the biggest American banks, saying that an unexpected rise in stress capital buffers would mean they might have to keep dividends flat and scale back or even eliminate share buybacks.
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