BLOOMBERG NEWSJPMorgan Chase (NYSE:JPM) announced its intention to return $40.4 billion to its shareholders over the next twelve months as part of its latest capital return plan released last week – making it the largest-ever capital return plan in the history of the diversified banking giant. In fact, the plan dwarfs the previous record for investor payouts by any U.S. bank over a 12-month period set by Wells Fargo last year with its $32.8 billion capital plan. This works out to total dividends of $11 billion assuming average outstanding shares of 3.1 billion for the next twelve months. The latest capital return plan of $40.4 billion over Q3 2019-Q2 2020 represents a 28% jump compared to the $31.5 billion in dividends and share repurchases JPMorgan announced in 2018. Taken together with $14.7 billion in proposed purchases for the rest of the year (half of the total proposed repurchases of $29.4 billion), total share repurchases is expected to be around $25 billion in 2019.

Source: Forbes July 04, 2019 12:33 UTC