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Increase In Dividends By Banks

Just as the market opens today we are expecting two pieces of domestic economic news; weekly jobless claims data, which is expected to come in around 241,000, and the third reading of Q1 GDP.  Then around noon, the last Fed speaker of the week, St. Louis Fed chief James Bullard, will lead a discussion in London.  

After the bell yesterday, most U.S. banks announced that they were increasing dividend payments and expanding their share buyback programs; big banks like Bank of America BAC, who increased their dividend by +60% and will repurchase $12 billion of their common stock, and JP Morgan Chase JPM who lifted their dividend by $0.06 and expanded their buyback program capacity to $19.4 billion were two of the most notable.  These announcements caused the banking sector to jump up in premarket trading. 


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J P Morgan Chase & Co (JPM): Free Stock Analysis Report
 
Bank of America Corporation (BAC): Free Stock Analysis Report
 
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