Morgan Stanley dividends increase as part of 2018 capital plan
Morgan Stanley raised quarterly stock dividends on June 28, the fourth such increase in as many years.
The announcement came as part of the financial firm's 2018 capital plan.
In addition to boosting the dividend from 25 cents per share to 30 cents, the plan calls for the repurchasing of up to $4.7 billion of stock for the next four quarters. The expected capital distributions follows the $6.8 billion of dividends included in the 2017 capital plan.
James Gorman, CEO of Morgan Stanley, said, “We are pleased to have increased the dividend for the fourth consecutive year, while maintaining a meaningful buyback. Our 2018 Capital Plan reflects the underlying strength and stability of our attractive mix of businesses."
"Morgan Stanley continues to invest for future growth while maintaining a very strong capital base and an attractive capital return profile,” Gorman said.
Morgan Stanley provides wealth management, investment management, securities and investment banking services.