Topic: How To Invest

Dividend Advisor Hotline – Friday, July 5, 2024

Article Excerpt

J.P. MORGAN CHASE & CO., $204.79, New York symbol JPM, is a buy. Morgan is the largest banking firm in the U.S., with total assets of $4.09 trillion as of March 31, 2024. With the April 2024, payment, Morgan increased your quarterly dividend by 9.5%, to $1.15 a share from $1.05. The new annual rate of $4.60 yields 2.2%. The bank has passed the U.S. Federal Reserve’s latest annual stress test, which measures how financial firms would cope with a jump in unemployment, falling stock prices and other unfavourable developments. However, Morgan noted that the Fed’s calculation overestimated a certain measure of part of its income. That would modestly increase its losses under the test. Even so, that adjustment is unlikely to impact Morgan’s ability to pay dividends and buy back shares. In fact, Morgan now plans to raise your quarterly dividend by 8.7%, to $1.25 a share, in the third quarter of 2024. The implied annual rate of $5.00 yields 2.4%. Moreover, the bank has authorized a..