JP Morgan Chase & Co. gifts its shareholders a 42.9% hike in quarterly dividends.
The investment bank’s Board of Directors announced new quarterly dividends of 80 cents per share (up from around 56 cents) that will be paid out on Oct 31. The increase in dividends is part of the company’s 2018 capital plan which also includes $20.7 billion worth of share buybacks through the second quarter of 2019. These have been approved by the Federal Reserve.
JP Morgan's latest dividend increase follows its earlier 12% hike to 56 cents per share in September 2017.