JPMorgan Chase & Co. (NYSE: JPM) will boost its dividend next year and increase it by as much as 45% between now and 2013 as a result of the strength of its senior management team and acquisitions made during the economic downturn, reported Barron’s magazine, citing research reports from analysts.
JPMorgan CEO Jamie Dimon said that his company may generate enough capital to increase its annual dividend even as banks have fallen out of favor with investors because of low interest rates, regulatory reform and an overall week economy.
Barron’s said that JPMorgan Chase & Co. (NYSE: JPM)’s annual dividend increase could be as high as $1.00 per share.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. JPMorgan Chase’s principal bank subsidiaries are JPMorgan Chase Bank, National Association (JPMorgan Chase Bank, N.A.), a national banking association with United States branches in 23 states, and Chase Bank USA, National Association (Chase Bank USA, N.A.), a national banking association that is the Firm’s credit card-issuing bank. JPMorgan Chase’s principal nonbank subsidiary is J.P. Morgan Securities Inc. (JPMorgan Securities), its United States investment banking firm. Its activities are organized into six business segments: Investment Bank, Retail Financial Services (RFS), Card Services (CS), Commercial Banking (CB), Treasury & Securities Services (TSS) and Asset Management (AM). Its wholesale businesses comprise the Investment Bank, Commercial Banking, Treasury & Securities Services and Asset Management segments. Its consumer businesses comprise the Retail Financial Services and Card Services segments.
Shares of JPMorgan Chase & Co. (NYSE: JPM) traded up 1.97% during mid-day trading on Friday.
