Investors reaped the rewards of looser bank supervision as Wall Street’s biggest banks announced a flood of shareholder payouts on Tuesday, after passing regulatory stress tests that imposed easier conditions than in years past.
JPMorgan, Goldman Sachs, Bank of America, Morgan Stanley and other banks said they would raise quarterly dividend payments to shareholders. JPMorgan and Morgan Stanley also said they would buy back billions of dollars' worth of their shares.
Goldman said it would raise its dividend 33 per cent. JPMorgan said it would increase its quarterly common stock dividend by 7 per cent in the next quarter.
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