Aggressive · Stocks to Consider and Updates

Chase Hikes Dividend; Announces Share Buy Back

Following its favorable Comprehensive Capital Analysis and Review by the Federal Reserve, JPMorgan Chase (NYSE: JPM – $106.09) announced a 43% increase to its quarterly dividend from $0.56 per share to $0.80. On an annualized basis, JPM will pay stockholders $3.20 per share equal to a yield of 3%. In addition, the Fed allowed Chase additional share repurchases and the Board of Directors authorized a $20.7 billion buyback program from July 1, 2018 to June 30, 2019. Following the better-than-expected earnings results for the first quarter, JPMorgan Chase should earn $9.03 per share this year and $9.80 in 2019. At the current price, the shares of this high-quality bank are quite favorable and long-term holdings remain sound.

 

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