JPMorgan Leads $22 Billion Increase in U.S. Banks’ Payouts
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U.S. bank investors may be rewarded with an extra $22 billion annually after government tests showed the industry has regained enough strength to boost dividends and share buybacks.
JPMorgan Chase & Co., Wells Fargo & Co. and Goldman Sachs Group Inc. were among six lenders that disclosed more than $16.2 billion in share buybacks and $5.4 billion of annualized dividend increases yesterday, according to data compiled by Bloomberg. The banks made their announcements after learning they passed a Federal Reserve review of their financial health.