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JPMorgan authorized for $6B common equity buyback, 38c dividend

Following the Federal Reserve Board's release of 2013 CCAR results, JPMorgan Chase announced that: the firm is authorized to repurchase an additional $6B of common equity between April 1 and March 31, 2014; the board intends to increase the firm's quarterly common stock dividend to 38c per share from 30c per share, effective Q2. The Federal Reserve Board informed the firm that it does not object to the firm's proposed 2013 capital distribution plan. The Federal Reserve Board also asked that the Firm submit an additional capital plan by the end Q3 addressing the weaknesses identified in the firm's capital planning processes.