By Saeed Azhar, Tatiana Bautzer and Nupur Anand
NEW YORK (Reuters) – U.S. banks including JPMorgan Chase & Co and Wells Fargo & Co hiked their dividends on Friday after sailing through the Federal Reserve’s annual health check, which showed they have enough capital to weather a severe economic downturn.
JPMorgan, the biggest U.S. bank by assets, intends to increase the quarterly common stock dividend to $1.05 per share, from current $1.00 per share for the third quarter of 2023. Wells Fargo said it will hike its third quarter common stock dividend to $0.35 per share from $0.30 per share.
(Reporting by Saeed Azhar, Nupur Anand and Tatiana Bautzer; Editing by Michelle Price, Lananh Nguyen, Richard Chang and Diane Craft)
