BHS (BH Securities a.s.)
Markets  |  March 15, 2013 12:20:45

Major U.S. banks reported an increase in dividends or repurchases of own shares

Following the previous publication of the stress test results 18 major banks by the Fed, the bank came yesterday with the announcement of their capital plans. Fed in 14 cases their actions fully approved. For JP Morgan (JPM) and Goldman Sachs (GS) but only conditionally. Expects them to the end of 3Q submit new plans, though those existing sees significant shortcomings.

Goldman Sachs (GS) for details of approved actions has not yet published. Last year, Q has increased dividend in February while the last $ 0.50 / share. JP Morgan (JPM), the biggest U.S. bank by assets, announced today a dividend increase from $ 0.30 to $ 0.38 / share. The market expected to grow to $ 0.36. The record date for entitlement was set at 5.7, then on July 31, 2013 payment. The Bank also restores program buying back its own shares. In the period from 04.01 intends to have in the next 12 months to invest up to $ 6 billion. The bank is still after scrutiny by politicians regarding its trading losses of at least $ 6.2 billion. It criticizes the Senate. Bank according to the report of the commission ignored the risks and tried to conceal the loss. Should know about her senior bank executives, including chief Jamie Dimona.

Bank of America (BAC) then got permission for its first-ever program of buying back its own shares from the crisis and only a 5 billion USD. In addition, redeem preferred shares for 5.5 billion USD. Increase currently still only One Cent Bank quarterly dividends after Fed did not request.

The third largest institute Citigroup (C) then announced repurchase program for 1.2 billion USD. One Cent dividend was also retained.

Morgan Stanley (MS) for approval of the Fed buying back its own shares or increase dividends not ask. She had, however, to sanctify your long-term plan to get just from Citigroup remaining 35% stake in Smith Barney. Company Q and maintains a dividend of $ 0.05.

Mention may be even as American Express (AXP), which this year plans to redeem its own shares at a substantial total of 4 billion USD. By now it has already done this year for 800 million USD. Q In the opening next year, also plans to spend another $ 1 billion.Market capitalization currently stands at about 72.2 billion U.S. dollars, ie you can talk about almost 7% of the share buy-back. The company also intends to increase the dividend Q from $ 0.20 to $ 0.23.   

Market reaction to the announcement yesterday in the "after hours" mixed. Perhaps the most positive, more than 4% growth, responded shares of Bank of America (BAC). After yesterday's already the 10 DJIA index growth in a row, while futures indicate a neutral home Friday session. Today, however, we expect significant macro data. Markets to higher activity, respectively.volatility can also bring today's futures expiration, respectively. options.   


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