Morgan Stanley Approves $20 Billion Share Buyback Program, Dividend Increase
27 Juni 2022 - 11:16PM
Dow Jones News
By Kathryn Hardison
Morgan Stanley's board of directors has approved a share
repurchase program of up to $20 billion.
The company said Monday the new buyback program would begin in
the third quarter and wouldn't have an expiration date.
Chief Executive James Gorman said in prepared remarks that the
new program is driven by the company's business transformation,
including earnings from its wealth management and investment
management businesses.
Morgan Stanley also said that it would increase its quarterly
common stock dividend to $0.775 per share from the current $0.70
per share in the third quarter.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
June 27, 2022 17:01 ET (21:01 GMT)
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