Morgan Stanley raises dividend to 85c per share, reauthorizes $20B stock buyback

Morgan Stanley announced that it will increase its quarterly common stock dividend to $0.85 per share from the current $0.775 per share, beginning with the common stock dividend expected to be declared by the Firm’s Board of Directors in the third quarter of 2023. 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 2023. 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. James P. Gorman, Chairman and Chief Executive Officer of Morgan Stanley, said, “The results of the Federal Reserve’s stress test demonstrate the durability of our transformed business model. We remain committed to returning capital to our shareholders and are raising our dividend by 7.5 cents. In addition, we are renewing our previously announced $20 billion multi-year share repurchase authorization. These decisions reflect the resilience of our franchise, particularly Wealth and Investment Management, and our strong capital position.”