6/27, 10:57 PM (Source: TeleTrader)
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Morgan Stanley hikes dividend to $0.775 per share

American investment bank Morgan Stanley announced on Monday it will boost its quarterly common stock dividend by 11%, to land $0.775 per share, up from $0.70 per share currently, set to be revealed by the company's Board of Directors in the third quarter of 2022.

Furthermore, the Board of Directors approved a new multi-year $20 billion common equity share repurchase program, with no set expiration date. "We are pleased to continue our robust capital return program, which is driven by our business transformation, especially the durable earnings from our Wealth Management and Investment Management businesses," said the company's Chairman and Chief Executive Officer James P. Gorman.

"The strength and stability of our franchise and our capital cushion provide us the flexibility to continue to invest for future growth while also returning capital to shareholders," the CEO added. In the after-hours trading, shares of the American multinational investment bank rose 1.30% following the announcement.

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