Morgan Stanley raises dividend 15% and approves $20B buyback program

Morgan Stanley (NYSE: MS) announced it will raise its quarterly common stock dividend to $1.15 per share from $1.00 per share, a 15% increase, beginning with the dividend expected to be declared in the third quarter of 2026.

The firm's Board of Directors also reauthorized a multi-year common equity share repurchase program of up to $20 billion, with no set expiration date, also beginning in the third quarter of 2026. Share repurchases will be conducted at prices the firm deems appropriate, subject to market conditions, its capital position, and its economic and earnings outlook.

Ted Pick, Chairman and Chief Executive Officer of Morgan Stanley, said, "We have a globally scaled business that supports the Firm's durable returns and strong capital position. Our financial strength gives us ongoing flexibility to invest in growth opportunities across the Integrated Firm while increasing the return of capital to shareholders."

The announcements follow the Federal Reserve's release of its CCAR 2026 results on June 24, 2026, which did not affect the firm's Stress Capital Buffer requirement. The Federal Reserve previously indicated in February 2026 that Morgan Stanley's current SCB requirement of 4.3% is expected to remain in place until October 1, 2027. That requirement results in an aggregate U.S. Basel III Standardized Approach Common Equity Tier 1 ratio of 11.8%. As of March 31, 2026, Morgan Stanley's CET1 ratio stood at 15.1%.

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