US banks have announced huge increases in their dividends after the US Federal Reserve lifted restrictions on payments imposed at the start of the Covid-19 pandemic.
Rules were eased after the completion of stress tests last week that showed a robust financial position for all the main banks.
Morgan Stanley (NYSE:MS) said it would double its quarterly dividend to 70c per share alongside a US$12bn share buyback.
Wells Fargo (NYSE:WFC) said it would double its dividend to 20c, while also announcing an US$18bn share buyback.
JP Morgan said it is raising its payout to 100c from 90c, Bank of America by 17% to 21c and Truist to 48c from 45c.