Morgan Stanley (MS) Raises Dividend, Reauthorizes $20B Share Buyback

Morgan Stanley (NYSE: MS) announced that it will increase its quarterly common stock dividend to $0.925 per share from the current $0.85 per share, beginning with the common stock dividend expected to be declared by the Firm’s Board of Directors in the third quarter of 2024.

In addition, the Firm’s Board of Directors reauthorized a multi-year common equity share repurchase program of up to $20 billion, without a set expiration date, beginning in the third quarter of 2024. The share repurchases will be exercised from time to time at prices the Firm deems appropriate, subject to various considerations, including current market conditions, the Firm’s capital position and future economic and earnings outlook.

Ted Pick, Chief Executive Officer of Morgan Stanley, said, “These results demonstrate continued execution of a clear and consistent strategy to raise, manage and allocate capital for clients. We are raising our dividend by 7.5 cents for the third year in a row reflecting the durability of Morgan Stanley's business model.”

On June 26, 2024, the Board of Governors of the Federal Reserve System released its CCAR 2024 results, as a result of which Morgan Stanley expects to be subject to a Stress Capital Buffer (SCB) of 6.0% from October 1, 2024 to September 30, 2025. Together with other features of the regulatory capital framework, this SCB results in an aggregate U.S. Basel III Standardized Approach Common Equity Tier 1 (CET1) ratio of 13.5%. The Firm’s U.S. Basel III Standardized Approach CET1 ratio was 15.0% as of March 31, 2024.

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