JPMorgan Chase unveiled a new $50 billion share repurchase program and raised its quarterly dividend after the Federal Reserve's annual stress test showed the nation's biggest banks remain well capitalized. The largest U.S. bank by assets will increase its quarterly dividend 10% to $1.65 per share, subject to board approval, and authorized the buyback effective July 1. Goldman Sachs likewise increased its quarterly dividend 11% to $5 per share, citing strong earnings and capital position. The Fed's stress test found all 32 large banks stayed above minimum capital requirements even under a hypothetical recession generating more than $708 billion in projected industry losses, though the results will not affect capital requirements this year as the Fed keeps stress capital buffers unchanged through 2027 while overhauling its methodology.
JPMorgan Chase & CoJPMorgan unveiled a new $50 billion share repurchase program and raised its quarterly dividend 10% to $1.65 per share.
Goldman Sachs Group IncGoldman Sachs raised its quarterly dividend 11% to $5 per share, citing strong earnings and capital position.