Topic: How To Invest

Dividend Advisor Hotline – Friday, October 20, 2017

Article Excerpt

J.P. MORGAN CHASE & CO., $99.51, New York symbol JPM, is the largest banking firm in the U.S., with total assets of $2.6 trillion as of September 30, 2017. Morgan last increased its quarterly dividend with the October 2017 payment. Investors now receive $0.56 a share, up 12.0% from $0.50. The new annual rate of $2.24 yields 2.3%. In the third quarter of 2017, Morgan’s earnings improved 7.1%, to $6.7 billion from $6.3 billion a year earlier. The company spent $4.5 billion on share buybacks in the period. As a result, earnings per share jumped 11.4%, to $1.76 from $1.58. That beat the consensus estimate of $1.66. Revenue in the quarter rose 2.7%, to $26.2 billion from $25.5 billion, which also beat the consensus forecast of $25.2 billion. Those gains are mainly due to higher interest rates and steady demand for new consumer and business loans. Rising stock prices also lifted earnings for Morgan’s wealth management operations. Altogether, the improvements offset lower revenue from…