Most big U.S. banks pass Fed's stress test, boosting shareholder payouts
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June 29, 2016 4:46 PM EDT
The Federal Reserve Board announced that it does not object to the planned capital actions requested by Citi (NYSE: C) as part of the 2016 Comprehensive Capital Analysis and Review.
The planned capital actions include an increase of Citis quarterly common stock dividend to $0.16 per share (subject to quarterly approval... More
June 29, 2016 4:38 PM EDT
(Updated - June 29, 2016 4:42 PM EDT)
Bank of America (NYSE: BAC) announced that the companys Board of Directors plans to increase its quarterly common stock dividend by 50 percent to $0.075 per share, beginning in the third quarter of 2016. Also, the Board authorized the repurchase of $5 billion in common stock from July 1, 2016 through June 30, 2017. On a quarterly basis, this authorization represents an increase of more than 50 percent from the prior years... More
June 29, 2016 4:37 PM EDT
Morgan Stanley (NYSE: MS) announced that it received no objection from the Board of Governors of the Federal Reserve System (Federal Reserve Board) to the Firms 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... More
