JPMorgan Chase Lifts Dividend and Stock Repurchase Plan

  The Board of Directors of JPMorgan Chase  & Co. (NYSE: JPM – $91.73) said they intend to increase the quarterly common stock dividend 12 % to $0.56 per share (up from the current $0.50 per share), effective the third quarter of 2017. The new annualized rate of $2.24 will yield investors 2.4% at current quotations. The 2017 third quarter dividend would be payable on October 31, 2017, to shareholders of record at the close of business on October 6, 2017. Additionally, the Board has authorized share repurchases of up to $19.4 billion between July 1, 2017 and June 30, 2018 under a new common equity repurchase program. The announcement followed the news that the Federal Reserve Board does not object to the firm’s capital plan under the recently concluded 2017 Comprehensive Capital Analysis and Review.

       Shares of JPM are trading at the high-end of their 52-week range, and upside from this point in the short run may be minimal. However, for those investors wishing to participate in the banking sector, shares of good quality JPMorgan Chase can continue to be held for income and potential long-term gains.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: