Following the Federal Reserve Board’s release of 2013 CCAR results, JPMorgan Chase & Co. (NYSE: JPM) today announced that:
- The Firm is authorized to repurchase an additional $6 billion of common equity between April 1, 2013 and March 31, 2014.
- The Board of Directors intends to declare the first quarter common stock dividend of $0.30 per share.
- The Board of Directors intends to increase the Firm’s quarterly common stock dividend to $0.38 per share, effective second quarter of 2013.
Repurchases of equity will be pursuant to the common equity repurchase program previously authorized by the Firm’s Board of Directors on March 13, 2012. The timing and exact amount of common stock and warrants purchased will be consistent with the Firm’s capital plan and will depend on various factors, including market conditions, the Firm’s capital position, internal capital generation, and organic investment opportunities. The Firm’s repurchase program does not include specific price targets, may be executed through open market purchases or privately negotiated transactions, including the use of Rule 10b5-1 programs, and may be suspended at any time.Further information is available on the Firm’s website at www.jpmorganchase.com under Investor Relations, Investor Presentations. About JPMorgan Chase & Co. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers, small businesses, commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.