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JPMorgan Enhances Shareholder Wealth with 43% Dividend Hike

Andrew Brunton
JPMorgan Enhances Shareholder Wealth with 43% Dividend Hike

As part of its capital return plan, JPMorgan Chase (JPM), the largest US bank, has declared a massive 43% rise in its quarterly cash dividend. The bank will pay the dividend on October 31 to shareholders of record as of October 5. Based on yesterday’s closing price of $114.30 per share, the dividend yield is 2.8%, which is the second-highest among the top five US banks based on market capitalization.