US banks announce dividend payouts after passing Fed’s ‘stress tests’

Quick Summary:

Many of the banks on Friday said their stress test results confirmed what they expected to hear from the Fed, and that they would be able to return some of the excess capital they were holding to shareholders as a result.

This was even as JPMorgan, the largest US bank, saw its capital ratio requirement increase to 12.3 per cent from 11.9 per cent.

BofA raised its dividend by 8 per cent to 26 cents per share for the third quarter.

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Article Details

Author / Journalist: Joshua Franklin

Category: MarketsFinanceInvesting

Markets: United States

Topics: Increase Capital Jpmorgan Test Dividend Bank Share Banks Year Cent Stress

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 21:46:42 (2 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 644 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 21412670

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Official Website: ft.com

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