Topic: How To Invest

Dividend Advisor Hotline – Friday, October 18, 2019

Article Excerpt

J.P. MORGAN CHASE & CO., $120.56, New York symbol JPM, is the largest banking firm in the U.S., with total assets of $2.76 trillion as of September 30, 2019. Starting with the October 31, 2019, payment, the bank will increase its quarterly dividend by 12.5%. Investors will then receive $0.90 a share, up from $0.80. Morgan’s new annual rate of $3.60 yields 3.0%. The bank also plans to buy back up to $29.4 billion in common shares by June 30, 2020. That’s equal to 8% of its market cap. Meantime, Morgan’s revenue in the quarter ended September 30, 2019, rose 8.1%, to $30.1 billion from $27.8 billion a year earlier. The increase is partly due to a $350 million gain on the sale of home mortgage loans. The latest revenue figure also exceeded the consensus forecast of $28.4 billion. Earnings in the quarter improved 8.4%, to $9.08 billion from $8.38 billion. Per-share earnings jumped 14.5%, to $2.68 from $2.34 on fewer shares outstanding…

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