Morgan Stanley: raises dividend, steps up share buyback
(CercleFinance.com) - Morgan Stanley has raised its quarterly dividend by 17% and said it will step up its share buybacks after the Federal Reserve did not object to the firm's capital plan.
The New York-based investment bank said it will raise its quarterly dividend to 35 cents per share, up 5 cents from the previous quarter.
Its capital plan also includes the repurchase of up to 6 billion dollars of common stock over the next four quarters, an increase from 4.7 billion dollars for the 2018 capital plan.
Morgan Stanley's shares were up 1.5% in early morning trading on Friday.
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The New York-based investment bank said it will raise its quarterly dividend to 35 cents per share, up 5 cents from the previous quarter.
Its capital plan also includes the repurchase of up to 6 billion dollars of common stock over the next four quarters, an increase from 4.7 billion dollars for the 2018 capital plan.
Morgan Stanley's shares were up 1.5% in early morning trading on Friday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.