Morgan Stanley Announces Share Repurchase of up to $3.5 Billion of Common Stock & the Increase of Its Quarterly Dividend to $...
June 29 2016 - 04:35PM
Business Wire
Morgan Stanley announced today that it received no objection
from the Board of Governors of the Federal Reserve System (“Federal
Reserve Board”) to the Firm’s 2016 Capital Plan. The capital plan
includes the repurchase of up to $3.5 billion of outstanding common
stock for the four quarters beginning in the third quarter of 2016
through the end of the second quarter of 2017, an increase from
$2.5 billion for the comparable four quarter period in the 2015
Capital Plan, as well as an increase in the Firm’s quarterly common
stock dividend to $0.20 per share from the current $0.15 per share,
beginning with the common stock dividend expected to be declared
for the third quarter of 2016. In addition, the Firm is considering
the possible redemption of other capital securities. The Federal
Reserve Board also asked the Firm to submit an additional capital
plan by December 29, 2016 addressing weaknesses identified in the
Firm’s capital planning process.
James Gorman, Chairman and Chief Executive Officer of Morgan
Stanley, said, “We are very pleased to be able to increase our
capital return to shareholders for the fourth consecutive year.
Returning additional capital to our shareholders is a key element
of our strategic plan. In addition, we are committed to addressing
the Fed’s concerns about our capital planning process and fully
expect to meet their requirements within the established
timeframe.”
Morgan Stanley (NYSE:MS) is a leading global financial services
firm providing investment banking, securities, wealth management
and investment management services. With offices in more than 43
countries, the Firm's employees serve clients worldwide including
corporations, governments, institutions and individuals. For
further information about Morgan Stanley, please visit
www.morganstanley.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160629006404/en/
Morgan StanleyMedia RelationsMichele Davis,
212-761-9621orInvestor RelationsSharon Yeshaya, 212-761-1632
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Feb 2024 to Mar 2024
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Mar 2023 to Mar 2024