Large U.S. banks have announced dividend increases after passing the Federal Reserve's stress test

Odaily Planet Daily News: Major U.S. banks announced dividend increases on Friday after they easily passed the Federal Reserve's annual stress test. Major banks such as JPMorgan Chase and Bank of America announced dividend increases. Just two days ago, the regulator's assessment results showed that all 31 banks participating in the test were able to maintain sufficient capital to withstand the test of the economic recession scenario. Other banks that increased dividends include Citigroup, Wells Fargo and Morgan Stanley. JPMorgan Chase and Morgan Stanley also approved tens of billions of dollars in stock repurchase plans. The Federal Reserve asked banks to wait until the market closed on Friday to disclose updates so that each company and investors have time to digest the results. JPMorgan Chase announced that it would repurchase no more than $30 billion in shares, and Morgan Stanley reauthorized a repurchase plan of no more than $20 billion. (Global Market Report)