Morgan Stanley Announces Share Repurchase of up to $3.5 Billion of Common Stock and the Increase of Its Quarterly Dividend to $0.20 Per Share
Get Alerts MS Hot Sheet
Overall Analyst Rating:
NEUTRAL ( Down)
Dividend Yield: 1.7%
EPS Growth %: +18.8%
Join SI Premium – FREE
NEW YORK--(BUSINESS WIRE)-- Morgan Stanley announced today that it received no objection from the Board of Governors of the Federal Reserve System (“Federal Reserve Board”) to the Firm’s 2016 Capital Plan. The capital plan includes the repurchase of up to $3.5 billion of outstanding common stock for the four quarters beginning in the third quarter of 2016 through the end of the second quarter of 2017, an increase from $2.5 billion for the comparable four quarter period in the 2015 Capital Plan, as well as an increase in the Firm’s quarterly common stock dividend to $0.20 per share from the current $0.15 per share, beginning with the common stock dividend expected to be declared for the third quarter of 2016. In addition, the Firm is considering the possible redemption of other capital securities. The Federal Reserve Board also asked the Firm to submit an additional capital plan by December 29, 2016 addressing weaknesses identified in the Firm’s capital planning process.
James Gorman, Chairman and Chief Executive Officer of Morgan Stanley, said, “We are very pleased to be able to increase our capital return to shareholders for the fourth consecutive year. Returning additional capital to our shareholders is a key element of our strategic plan. In addition, we are committed to addressing the Fed’s concerns about our capital planning process and fully expect to meet their requirements within the established timeframe.”
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 43 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160629006404/en/
Morgan Stanley
Media Relations
Michele Davis, 212-761-9621
or
Investor
Relations
Sharon Yeshaya, 212-761-1632
Source: Morgan Stanley
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Synchrony Financial (SYF) Reports Q1, Announces $1B Share Buyback
- JAKKS Pacific Reports First Quarter 2024 Financial Results
- Forge Global Holdings, Inc. to Report First Quarter 2024 Financial Results on May 7th, 2024
Create E-mail Alert Related Categories
Press ReleasesRelated Entities
Morgan Stanley, Dividend, Stock BuybackSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!