JPM: JP Morgan Chase: JPMorgan Chase Plans Dividend Increase and $6.5 Billion Capital Repurchase Program

  JPM: JP Morgan Chase: JPMorgan Chase Plans Dividend Increase and $6.5
  Billion Capital Repurchase Program

UK Regulatory Announcement


JPMorgan Chase & Co. (NYSE:JPM) announced today that, following the Federal
Reserve Board’s release of the 2014 Comprehensive Capital Analysis and Review
(CCAR) results, its Board of Directors intends to increase the quarterly
common stock dividend to $0.40 per share, effective the second quarter of
2014. The Board has also authorized a common equity repurchase program to
repurchase $6.5 billion of common equity between April 1, 2014, and March 31,
2015. This authorization includes shares repurchased to offset issuances under
the Firm’s equity-based compensation plans.

The Federal Reserve Board informed the Firm that it does not object to the
Firm’s proposed 2014 capital distribution plan.

Jamie Dimon, Chairman and CEO of JPMorgan Chase said:“We are pleased that our
Board intends to raise the dividend and has authorized us to continue our
equity buyback program. We anticipate reaching a Basel III Tier I common ratio
of 10% by the end of this year, taking into account these capital actions and
our ongoing investments in our growing businesses.”

The Firm’s dividends will be subject to the Board’s approval at the customary
times those dividends are declared. The 2014 second quarter dividend, which
the Board intends to increase to $0.40 per share, would be for shareholders of
record on July 3, 2014, payable on July 31, 2014. Upon the declaration of a
dividend in the second quarter of 2014 in an amount in excess of $0.38 per
share, the Exercise Price and the Warrant Share Number for the warrants (as
defined in the warrants) to purchase shares of common stock of the Firm may be
adjusted. Further information regarding the warrants and adjustments to the
warrant Exercise Price and the Warrant Share Number is available on the Firm’s
website at, under the heading Investor Relations,
Shareholder Information: “Warrant Information.”

Repurchases of equity will be pursuant to the common equity repurchase program
of $15.0 billion previously authorized by the Firm’s Board of Directors on
March 13, 2012. As of the date of this press release, $8.3 billion of
repurchase capacity was remaining under such program. The timing and exact
amount of common equity purchased will be consistent with the Firm’s capital
plan and will depend on various factors, including market conditions, the
Firm’s capital position, internal capital generation, alternative investment
opportunities, and legal and regulatory considerations; the Firm’s repurchase
program does not include specific price targets or timetables, and may be
executed through open market purchases or privately negotiated transactions,
including the use of Rule 10b5-1 programs, and may be suspended at any time.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm
with assets of $2.4 trillion and operations worldwide. The Firm is a leader in
investment banking, financial services for consumers, small business and
commercial banking, financial transaction processing, asset management and
private equity. A component of the Dow Jones Industrial Average, JPMorgan
Chase & Co. serves millions of consumers in the United States and many of the
world’s most prominent corporate, institutional and government clients under
its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is
available at

JPMorgan Chase & Co.
Sarah Youngwood, 212-270-7325
Brian Marchiony, 212-270-7433


JP Morgan Chase
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