JP Morgan is to pay its biggest ever dividend, leading a wave of mega-payouts from the big US investment banks.
The Daily Telegraph reports that the industry is showing its strength with increasingly large payments to shareholders, underlining the recovery in the sector and in the wider US economy. It contrasts with mixed fortunes in the UK and a relatively weak picture in much of the eurozone.
JP Morgan's dividend of $1.72 per share is up from $1.58 in 2014, making its total payout to investors a record $6.3bn for the year.
Morgan Stanley followed hot on JP Morgan’s heels, hiking its dividend per share to $0.55, up from $0.35 in 2014. The dividend amounts to $1.1bn, the highest level since 2008.
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