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Reuters

Four big U.S. banks raise dividends after stress tests

Morgan Stanley, Goldman Sachs, Bank of America and Wells Fargo hiked their dividends on Monday after the U.S. banks cleared their annual stress test exercise last week. The U.S. Federal Reserve said on Thursday the country’s largest lenders could easily weather a severe economic downturn, giving them a clean bill of health and paving the way for them to redistribute excess capital to shareholders. The results allowed banks to announce higher dividends despite the Fed’s test being tougher than in 2021, pushing up some lenders’ required capital buffers more than expected.

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