JPMorgan Plans Dividend Increase And $6.4 Bln Share Buyback

(RTTNews) - JPMorgan Chase & Co (JPM) on Wednesday said the Federal Reserve Board has not objected to the company's adjusted 2015 capital distribution plan.

As a result, JPMorgan said it plans to increase the quarterly stock dividend by four cents to $0.44 per share, effective the second quarter of 2015.

The company also said it would authorize the repurchase of up to $6.4 billion of common equity between April 1, 2015, and June 30, 2016. This would include shares repurchased to offset issuances under the company's equity-based compensation plans.

JPMorgan's dividends will be subject to the board's approval. The board intends to formally authorize the equity repurchase program at its next meeting on March 17.