J.P. MORGAN CHASE & CO. $60 - New York symbol JPM

J.P. MORGAN CHASE & CO. $60 (New York symbol JPM; Income Portfolio, Finance sector; Shares outstanding: 3.7 billion; Market cap: $222.0 billion; Price-to-sales ratio: 2.5; Dividend yield: 2.9%; TSINetwork Rating: Average; www.jpmorganchase.com) will pay a quarterly dividend of $0.44 a share starting with the July 2015 payment, up 10.0% from $0.40. The new annual rate of $1.76 yields 2.9%.

Morgan also plans to buy back up to $6.4 billion worth of its shares by June 30, 2016, compared to the $4.8 billion it spent on repurchases in 2014.

The bank will probably earn $5.79 a share in 2015, up 9.5% from $5.29 in 2014. The stock trades at 10.4 times that estimate.

J.P. Morgan Chase is a buy.

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