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JPMorgan says special dividend ‘not really our preference’

Says wants sustainable dividend. Says dialogue on M&A “quite robust.” Says “reasonably cautious” on 2H24. Says deposit margins “well above historical norms.” Says deposit migration will continue to be headwind to NII. Says share repurchases will governed by “whatever make sense at the moment.” Says trying to get away from the notion of a “pace” of share buybacks.

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