world-economy

JPMorgan Authorizes $50B Buyback, Boosts Dividend Following Fed Stress Test

JPMorgan Chase announced a $50 billion share repurchase program, effective July 1, and increased its quarterly dividend 10% to $1.65 per share, subject to board approval, following the Federal Reserve's annual stress test results. CEO Jamie Dimon said the moves reflect the bank's strong financial performance and consistent business investments. Goldman Sachs also raised its quarterly dividend 11% to $5 per share. The Federal Reserve determined all 32 large banks maintained capital levels above regulatory minimums even under a hypothetical severe recession scenario. That scenario projected $708 billion in industry-wide losses. Unlike previous years, the stress test results will not alter capital requirements, as the Fed keeps stress capital buffers frozen through 2027 during its testing methodology overhaul. Banks entered the assessment with predetermined capital benchmarks.