JPMorgan Chase & Co JPMorgan Chase Plans Dividend Increase and $6.4 Billion Capital Repurchase Program
12 March 2015 - 6:00PM
UK Regulatory
TIDMJPM
JPMorgan Chase & Co. (NYSE:JPM) announced today that the
Federal Reserve Board had informed the Firm that it does not object
to the Firm's adjusted 2015 capital distribution plan and that the
Firm's Board of Directors intends to increase the quarterly common
stock dividend to $0.44 per share (up from the current $0.40 per
share), effective the second quarter of 2015, and to authorize the
repurchase of up to $6.4 billion of common equity between April 1,
2015, and June 30, 2016. The equity repurchase program would
include shares repurchased to offset issuances under the Firm's
equity-based compensation plans.
Jamie Dimon, Chairman and CEO of JPMorgan Chase said: "We are
pleased that our Board intends to raise the dividend and continue
our equity buyback program."
The Firm's dividends will be subject to the Board's approval at
the customary times those dividends are declared. The Board intends
to formally authorize the equity repurchase program at its next
meeting on March 17, 2015. The 2015 second quarter dividend, which
the Board intends to increase to $0.44 per share, would be for
shareholders of record on July 6, 2015, payable on July 31,
2015.
The timing and exact amount of common equity purchased will be
consistent with the Firm's capital plan and will depend on various
factors, including market conditions, the Firm's capital position,
internal capital generation, alternative investment opportunities,
and legal and regulatory considerations; the Firm's repurchase
program does not include specific price targets or timetables, and
may be executed through open market purchases or privately
negotiated transactions, including the use of Rule 10b5-1 programs,
and may be suspended at any time.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global
financial services firm with assets of $2.6 trillion and operations
worldwide. The firm is a leader in investment banking, financial
services for consumers and small business, commercial banking,
financial transaction processing, and asset management. A component
of the Dow Jones Industrial Average, JPMorgan Chase & Co.
serves millions of consumers in the United States and many of the
world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
JPMorgan Chase & Co.Investor Contact:Sarah Youngwood,
212-270-7325orMedia Contact:Joe Evangelisti, 212-270-7438
This information is provided by Business Wire
JP Morgan (LSE:JPM)
Historical Stock Chart
From Apr 2024 to May 2024
JP Morgan (LSE:JPM)
Historical Stock Chart
From May 2023 to May 2024