Morgan Stanley To Buy Back Up To $3.1 Bln Of Stock; Boosts Dividend

(RTTNews) - Morgan Stanley (MS) said Wednesday that it has received no objection from the Board of Governors of the Federal Reserve System to the company's 2015 Capital Plan.

The company's 2015 capital plan included a share repurchase of up to $3.1 billion of common stock for the five quarters beginning in the second quarter of 2015 through the end of the second quarter of 2016, as well as an increase in the company's quarterly common stock dividend to $0.15 per share from the current $0.10 per share, beginning with the dividend expected to be declared in the second quarter of 2015.

James Gorman, Chairman and Chief Executive Officer of Morgan Stanley, said, "The successful repositioning of the Firm and our ability to generate more consistent earnings enables us to increase both our dividend and share repurchase for the second consecutive year. Today's actions reflect the hard work of our employees over the last several years as we have been executing our strategic priorities."