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Morgan Stanley Announces 11% Dividend Hike and $20B Buyback Following Stress Test

Stock Markets Jun 27, 2022 04:53PM ET
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© Reuters. Morgan Stanley (MS) Announces 11% Dividend Hike and $20B Buyback Following Stress Test

By Davit Kirakosyan

Following the results of the 2022 stress test, Morgan Stanley (NYSE:MS) announced it will increase the quarterly dividend on its common stock 11% to $0.775 from the current $0.70 per share.

Furthermore, the company’s Board of Directors authorized a new multi-year common equity share repurchase program of up to $20 billion, beginning Q3/22.

CEO James Gorman commented, “We are pleased to continue our robust capital return program, which is driven by our business transformation, especially the durable earnings from our Wealth Management and Investment Management businesses. After doubling our dividend last year, we are raising our dividend 11% and continuing to buy our stock under a new $20 billion multi-year share repurchase authorization. The strength and stability of our franchise and our capital cushion provide us the flexibility to continue to invest for future growth while also returning capital to shareholders.”

The company's shares were trading 1.50% higher after-hours following the news.

Morgan Stanley Announces 11% Dividend Hike and $20B Buyback Following Stress Test
 

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Jun 27, 2022 7:53PM ET
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Share buybacks should be illegal
 
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