Major U.S. Banks Increase Dividends Following Successful Fed Stress Tests

Major U.S. banks, including JPMorgan, Morgan Stanley, Wells Fargo, Goldman Sachs, and Citigroup, have announced dividend increases following the Federal Reserve's stress tests. JPMorgan plans to raise its dividend to $1.05 per share, while Morgan Stanley will increase its quarterly dividend to 85 cents per share and authorize a multiyear share buyback of up to $20 billion. Wells Fargo will raise its dividend to 35 cents per share, Goldman Sachs will raise its dividend to $2.75 per share, and Citigroup will increase its quarterly dividend to 53 cents per share. The stress tests demonstrated the resilience of the banks and their ability to withstand severe shocks.