Topic: How To Invest

Dividend Advisor Hotline – Friday, July 6, 2018

Article Excerpt

J.P. MORGAN CHASE & CO., $104.06, New York symbol JPM, is the largest banking firm in the U.S., with total assets of $2.6 trillion as of March 31, 2018. Morgan has now passed the U.S. Federal Reserve’s annual “stress test.” It measures how financial firms would cope with a jump in unemployment, falling stock prices and other unfavourable developments. That approval gives those firms more room to raise their dividends and buy back shares. As a result of the success of its own stress test, Morgan plans to increase its quarterly dividend by 42.9%. Starting with the third quarter payment, investors will receive $0.80 a share, up from $0.56. The new annual rate of $3.20 yields 3.1%. In addition, Morgan plans to buy back up to $20.7 billion in common shares by June 30, 2019. That’s equal to 6% of its $354.2 billion market cap (the total value of all outstanding shares). Including this latest increase, Morgan’s dividend has grown an average of 16.1%…

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