JP Morgan and other banks boost dividends and buybacks after passing Fed stress test
, the biggest U.S. bank, is boosting its dividend to 90 cents a share from its current level of 80 cents a share. The bank also can repurchase up to $29.4 billion in stock from July 1 of this year to June 30 of 2020 under a new program. Last year, the lender had a $20.7 billion repurchase program.
All 18 of the big institutions tested by the Fed won approval to boost payouts with the exception of the U.S. division of Credit Suisse, which had weaknesses in its capital planning process, according to the Fed.
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