Morgan Stanley will raise dividend as soon as Fed allows
The bank also announced a long-term goal of achieving a return on tangible common equity above 17%
Stocks impacted: Morgan Stanley (MS)
Morgan Stanley plans to increase the dividend it pays shareholders when restrictions are lifted by the Federal Reserve. As a reminder, the giant last declared a dividend of $0.35 per share on January 20. The bank also announced a long-term goal of achieving a return on tangible common equity above 17%. Elsewhere, Morgan Stanley topped South Korea’s league table of mergers and acquisitions in the first quarter this year by advising on several big-ticket cross-border deals in the M&A market. Last month, Morgan Stanley became the first big U.S. bank to offer its wealth management clients access to bitcoin funds. The bank’s stocks inched 0.72% higher on Thursday while the S&P 500 Index rose 1.18%, finishing above the 4,000 figure for the first time.
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