Topic: How To Invest

Dividend Advisor Hotline – Thursday, March 28, 2024

Article Excerpt

J.P. MORGAN CHASE & CO., $200.30, New York symbol JPM, is a buy. Morgan is the largest banking firm in the U.S., with total assets of $3.89 trillion as of December 31, 2023. With the April 2024 payment, Morgan will increase your quarterly dividend by 9.5%, to $1.15 a share from $1.05. The new annual rate of $4.60 yields 2.3%. The bank is also rewarding investors with share buybacks. In 2023, it repurchased $9.9 billion worth of its shares, and it still has $19.7 billion remaining under its current authorization. That’s equal to 3% of its current market cap of $576.9 billion. Thanks to these moves, the stock has gained 56% in the past year—it hit a record high of $200.72 on March 28, 2024. The stock now trades at 12.6 times the $15.93 a share that Morgan will probably earn in 2024. That’s a reasonable p/e in light of the bank’s high market share and improving outlook. With this latest increase, the bank has raised…