JPMorgan Chase’s board hikes dividend by 5%

JPMorgan Chase & Co.
JPM,
-0.13%
said in the extended session Tuesday that its board had hiked the bank’s dividend by 5%. The board authorized a quarterly dividend of $1.05 a share, up from a previous $1 a share, to be paid Oct. 31 to stockholders of record as of Oct. 6. This past June, JPMorgan announced plans to raise the dividend, subject to board approval, following Federal Reserve stress tests. Back in June 2022, JPMorgan held onto its $1-a-share dividend even as it raised its capital buffers ahead of stress tests last year.