Morgan Stanley Announces 7.5 Cents Dividend Increase and Authorization of a Renewed $20 Billion Multi-Year Common Equity Share Repurchase Program
June 28 2024 - 4:35PM
Business Wire
Morgan Stanley (NYSE: MS) announced that it will increase its
quarterly common stock dividend to $0.925 per share from the
current $0.85 per share, beginning with the common stock dividend
expected to be declared by the Firm’s Board of Directors in the
third quarter of 2024.
In addition, the Firm’s Board of Directors reauthorized a
multi-year common equity share repurchase program of up to $20
billion, without a set expiration date, beginning in the third
quarter of 2024. The share repurchases will be exercised from time
to time at prices the Firm deems appropriate, subject to various
considerations, including current market conditions, the Firm’s
capital position and future economic and earnings outlook.
Ted Pick, Chief Executive Officer of Morgan Stanley, said,
“These results demonstrate continued execution of a clear and
consistent strategy to raise, manage and allocate capital for
clients. We are raising our dividend by 7.5 cents for the third
year in a row reflecting the durability of Morgan Stanley's
business model.”
On June 26, 2024, the Board of Governors of the Federal Reserve
System released its CCAR 2024 results, as a result of which Morgan
Stanley expects to be subject to a Stress Capital Buffer (SCB) of
6.0% from October 1, 2024 to September 30, 2025. Together with
other features of the regulatory capital framework, this SCB
results in an aggregate U.S. Basel III Standardized Approach Common
Equity Tier 1 (CET1) ratio of 13.5%. The Firm’s U.S. Basel III
Standardized Approach CET1 ratio was 15.0% as of March 31,
2024.
Morgan Stanley is a leading global financial services firm
providing a wide range of investment banking, securities, wealth
management and investment management services. With offices in 42
countries, the Firm's employees serve clients worldwide including
corporations, governments, institutions and individuals. For more
information about Morgan Stanley, please visit
www.morganstanley.com.
Forward-Looking Statements
This Release contains forward-looking statements within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Readers are cautioned not
to place undue reliance on forward-looking statements, which speak
only as of the date on which they are made, which reflect
management’s current estimates, projections, expectations,
assumptions, interpretations or beliefs of Morgan Stanley’s future
results, regulatory capital levels and future capital actions,
including common stock dividends and common equity share
repurchases, and which are subject to risks and uncertainties that
may cause actual results to differ materially. Morgan Stanley does
not undertake to update the forward-looking statements to reflect
the impact of circumstances or events that may arise after the date
of forward-looking statements. For a discussion of additional risks
and uncertainties that may affect the future results, regulatory
capital levels and future capital actions of Morgan Stanley, please
see “Forward-Looking Statements” preceding Part I, Item 1,
“Competition” and “Supervision and Regulation” in Part I, Item 1,
“Risk Factors” in Part I, Item 1A, “Legal Proceedings” in Part I,
Item 3, “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” in Part II, Item 7 and
“Quantitative and Qualitative Disclosures about Risk” in Part II,
Item 7A, in Morgan Stanley’s Annual Report on Form 10-K for the
year ended December 31, 2023 and other items throughout the Form
10-K, Quarterly Reports on Form 10-Q and Current Reports on Form
8-K, including any amendments thereto.
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