Topic: How To Invest

Dividend Advisor Hotline – Friday, October 22, 2021

Article Excerpt

J.P. MORGAN CHASE & CO., $171.78, New York symbol JPM, remains a buy. The stock lets investors tap the largest banking firm in the U.S., with total assets of $3.76 trillion as of September 30, 2021. Morgan is now raising your quarterly dividend by 11.1%. Starting with the third quarter payment on October 31, 2021, investors will receive $1.00 a share instead of $0.90. The new annual rate of $4.00 yields 2.3%. The bank continues to take back the funds it set aside in 2020 to cover potential bad loans as a result of the COVID-19 lockdowns. In the three months ended September 30, 2021, due to those reversals, the bank recorded a net credit of $1.53 billion. A year earlier, those provisions totalled $611 million. As a result, earnings jumped 23.8%, to $11.69 billion from $9.44 billion. Morgan spent $5.24 billion on share buybacks during the quarter. As a result, per-share earnings rose at a faster rate of 28.1%, to $3.74 from $2.92. If you…

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