U.S. banking leaders increase third-quarter dividends following successful Federal Reserve stress tests, demonstrating robust financial health amid economic uncertainty.
giants announced plans to raise their third-quarter on Friday after proving that they have enough capital to withstand and in the Federal Reserve's annual health check.Bank of America's dividend will rise to 26 cents a share from 24 cents, and Citigroup's will increase to 56 cents from 53 cents, the lenders said in separate regulatory filings.
Morgan Stanley also boosted its dividend to 92.5 cents a share from the current 85 cents, according to a filing.
Source: Stocks-Markets-Economic Times