JPMorgan Chase & Co. (NYSE:JPM) Raises Dividend to $1.65 Per Share

Key Points

• JPMorgan Chase raised its quarterly dividend 10%, from $1.50 to $1.65 per share. Shareholders of record on October 6 will receive payment on October 31, representing an annualized yield of approximately 1.9%.
• The dividend appears well covered, with a current payout ratio of 30.6% and an expected future payout ratio of 24.0%. JPMorgan has increased its dividend for 15 consecutive years.
• JPMorgan reported strong quarterly results, with $6.14 in earnings per share and $58.02 billion in revenue, exceeding analyst expectations and reflecting 27.7% year-over-year revenue growth.

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Tuesday, October 6th will be paid a dividend of 1.65 per share by the financial services provider on Saturday, October 31st. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, October 6th. This is a 10.0% increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50.

JPMorgan Chase & Co. has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 15 years. JPMorgan Chase & Co. has a payout ratio of 30.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect JPMorgan Chase & Co. to earn $25.04 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 24.0%.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $354.10 on Wednesday. The business has a 50-day moving average of $352.81 and a 200-day moving average of $323.02. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $941.27 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. During the same period in the prior year, the business posted $4.96 earnings per share. The firm's revenue was up 27.7% on a year-over-year basis. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.

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