Morgan Stanley, BofA Send Money Back to Shareholders After Stress Tests
- At Morgan Stanley, a $20 billion buyback, dividend increase
- Goldman also boosts payout as JPMorgan, Citi hold the line
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Morgan Stanley and Goldman Sachs Group Inc. led the way as US banks boosted dividends and share buybacks in response to their success in clearing this year’s stress tests. JPMorgan Chase & Co. held its dividend steady at $1 a share.
Goldman Sachs said its quarterly dividend would jump 25% to $2.50 a share from $2. Morgan Stanley boosted its payout to 77.5 cents a share from 70 cents, according to a statement Monday.