JPMorgan (JPM) will maintain the current quarterly common stock dividend of $1.00 per share for the third quarter
News and research before you hear about it on CNBC and others. Claim your one week free trial for StreetInsider Premium here.
JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Company”) today announced that it has completed the Federal Reserve’s 2022 Comprehensive Capital Analysis and Review (“CCAR”) stress test process. The company’s indicative Stress Capital Buffer (“SCB”) requirement is 4.0% (compared to 3.2% currently) and the company’s Standardized Tier 1 Capital Ratio requirement, including regulatory buffers, is 12.0% (compared to 11.2% currently). The Federal Reserve will provide the company with its final SCB requirement by August 31, 2022, and this requirement will become effective on October 1, 2022 and will remain in effect until September 30, 2023.
JPMorgan Chase’s board of directors intends to maintain the current quarterly common stock dividend of $1.00 per share for the third quarter of 2022 in view of higher future capital requirements. The Company’s quarterly common stock dividends are subject to the approval of the Board of Directors at the customary times such dividends are declared.
Jamie Dimon, Chairman and CEO of JPMorgan Chase, said: “The Federal Reserve’s CCAR 2022 stress test once again shows that banks can be a source of strength for the broader economy while resisting extreme market shocks. We continue to maintain a strong balance sheet, including strong governance and controls, strong revenue growth and profit margins, and we remain committed to serving our customers and consumers. We will continue to use our capital to invest in and grow our market-leading businesses, pay a sustainable dividend, and we will retain capital to fully meet our future regulatory requirements.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services company based in the United States of America (“USA”), with operations worldwide. JPMorgan Chase had $4 trillion in assets and $285.9 billion in equity as of March 31, 2022. The company is a leader in investment banking, financial services for consumers and businesses. small business, commercial banking, financial transaction processing and asset management. Under the JP Morgan and Chase brands, the company serves millions of customers in the United States and around the world, many of the world’s largest businesses, institutions and governments. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.