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Wall Street is preparing another bumper payday for shareholders after the biggest US banks cleared the Federal Reserve’s annual stress tests. JPMorgan, Goldman Sachs, Citigroup, Wells Fargo, and Morgan Stanley all announced dividend increases within hours of the results, Bloomberg reports.
The payouts keep getting bigger: The six largest US banks returned more than USD 140 bn to shareholders through dividends and buybacks last year, surpassing the previous record set in 2019. The lenders also posted their strongest combined bottom lines since 2021, helped by record trading revenue.
This year’s exam came with a twist: Unlike previous years, banks no longer have to wait before announcing capital plans while the Fed overhauls the exercise. The agency said there is “no expectation” that lenders delay public disclosures of planned capital actions through 3Q 2027 — and separately froze stress-capital buffers until 2027, meaning this year's exam won't affect capital requirements.
The tests still matter: Introduced after the 2008 financial crisis, the tests measure whether banks could keep lending through a severe recession and market shock. But the annual review has become less onerous in recent years, with regulators moving toward a more bank-friendly framework.
JPMorgan led the payouts: JPMorgan lifted its quarterly dividend to USD 1.65 a share from USD 1.50 and authorized a fresh USD 50 bn buyback. Meanwhile:
- Goldman Sachs raised its payout to USD 5 from USD 4.50;
- Citigroup to USD 0.67 from USD 0.60;
- Wells Fargo to USD 0.50 from USD 0.45;
- Morgan Stanley to USD 1.15 from USD 1;
- Bank of America said it will announce its next quarterly dividend after its July board meeting and had almost USD 23 bn remaining on its buyback plan at the end of March.
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TASI |
10,933 |
-0.7% (YTD: +4.2%) |
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MSCI Tadawul 30 |
1,458 |
-0.7% (YTD: +5.1%) |
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NomuC |
23,009 |
-0.2% (YTD: -1.2%) |
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USD : SAR (SAMA) |
USD 3.75 Sell |
USD 3.75 Buy |
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Interest rates |
4.25% repo |
3.75% reverse repo |
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EGX30 |
51,443 |
-0.5% (YTD: +23.0%) |
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ADX |
9,880 |
+0.0% (YTD: -1.2%) |
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DFM |
6,018 |
-0.1% (YTD: -0.5%) |
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S&P 500 |
7,354 |
-0.1% (YTD: +7.4%) |
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FTSE 100 |
10,508 |
-0.2% (YTD: +5.8%) |
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Euro Stoxx 50 |
6,222 |
-0.7% (YTD: +7.3%) |
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Brent crude |
USD 71.99 |
-4.3% |
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Natural gas (Nymex) |
USD 3.28 |
-0.5% |
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Gold |
USD 4,096 |
+1.2% |
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BTC |
USD 60,193 |
+0.6% (YTD: -31.3%) |
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Sukuk/bond market index |
914.97 |
+0.3% (YTD: -0.5%) |
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S&P MENA Bond & Sukuk |
152.60 |
0.0% (YTD: +0.5%) |
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VIX (Volatility Index) |
18.41 |
-2.5% (YTD: +23.1%) |
THE CLOSING BELL: TADAWUL-
The TASI fell 0.7% on Thursday on turnover of SAR 4.2 bn. The index is up 4.2% YTD.
In the green: Naseej (+9.9%), Sipchem (+4.8%), and First Milling (+4.4%).
In the red: Development Works Food (-5.5%), Saudi Arabia Refineries (-5.1%), and Dar Alarkan (-5.1%).
THE CLOSING BELL: NOMU-
The NomuC fell 0.2% on Thursday on turnover of SAR 14.7 mn. The index is down 1.2% YTD.
In the green: Naf Company (+26.9%), Saudi Parts Center (+11.5%), and Naseej for Technology (+11.0%).
In the red: Marble Design (-10.8%), Time Entertainment (-8.5%), and Riyal Investment (-8.3%).
