JPMorgan Chase and Morgan Stanley announced significant increases in dividend payouts and share repurchases.

JPMorgan, the largest U.S. bank by assets, raised its quarterly dividend by 8.7% to $1.25 per share and authorized a new $30 billion share repurchase program.

Morgan Stanley increased its dividend by 8.8% to 92.5 cents per share and approved a $20 billion repurchase plan.

In contrast, Citigroup and Bank of America made more modest announcements, with Citigroup raising its dividend by 5.7% to 56 cents per share and Bank of America increasing its dividend by 8% to 26 cents per share, without mentioning share repurchases.

These actions followed the banks’ successful completion of the Federal Reserve’s annual stress test, which confirmed their ability to withstand a severe recession, CNBC has reported.

Despite higher potential losses identified by the Fed, JPMorgan stated this would not affect its capital-return plan.

CEO Jamie Dimon emphasized the bank’s strength in supporting future growth, sustainable dividends, and returning excess capital to shareholders.

Written by B.C. Begley