BANGALORE (Reuters) – Morgan Stanley and Bank of America said on Monday they are hiking their dividends, while JPMorgan & Chase will keep theirs flat, after the U.S. Federal Reserve gave them a clean bill of health following their annual stress tests last week.
The central bank said on Thursday the country’s largest lenders could easily weather a severe economic downturn, paving the way for them to redistribute excess capital to shareholders.
(Reporting by Carolina Mandl; Editing by Chris Reese)
