JPMorgan Chase & Co. (NYSE:JPM) Increases Dividend to $1.65 Per Share

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, September 15th. Investors of record on Tuesday, October 6th will be given a dividend of 1.65 per share by the financial services provider on Saturday, October 31st. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, October 6th. This is a 10.0% increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50.

JPMorgan Chase & Co. has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 15 years. JPMorgan Chase & Co. has a dividend payout ratio of 30.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect JPMorgan Chase & Co. to earn $25.04 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 24.0%.

JPMorgan Chase & Co. Price Performance

JPM opened at $354.10 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $352.81 and its 200 day moving average price is $323.02. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The firm has a market cap of $941.27 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. The company had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.JPMorgan Chase & Co.’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.96 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.