<p>首先是勝利，現在是獎勵。</p>
<p>與其他 31 家 銀行 及銀行相關的金融公司一起，<strong>摩根大通</strong>（JPM +0.47%）在 2026 年的美聯儲（Fed）年度 壓力測試 中表現出色。如果未能通過，美聯儲將對資本分配和員工獎金施加限制。但沒有——在沒有這些限制的情況下，它現在有更多的空間將資金返還給股東，果然，在測試結果公佈後，該銀行在這一領域宣佈了兩項新的、令人滿意的舉措。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vY2RuLmNvbnRlbnQuZm9vbGNkbi5jb20vaW1hZ2VzLzF1bW45cWVoL3Byb2R1Y3Rpb24vNjUwMmI5YjhhYmE1NWQ5MDdhNzAxMjFjMWUxOGZkYWZhNzQ0NjJmMy01MDY3eDM3MTAuanBnP3c9NTA2NyZoPTM3MTAmcT03NSZhdXRvPWZvcm1hdH93PTM4NDB_b3A9cmVzaXpl?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vY2RuLmNvbnRlbnQuZm9vbGNkbi5jb20vaW1hZ2VzLzF1bW45cWVoL3Byb2R1Y3Rpb24vNjUwMmI5YjhhYmE1NWQ5MDdhNzAxMjFjMWUxOGZkYWZhNzQ0NjJmMy01MDY3eDM3MTAuanBnP3c9NTA2NyZoPTM3MTAmcT03NSZhdXRvPWZvcm1hdH93PTM4NDB_b3A9cmVzaXpl"/></p>
<p>圖片來源：Getty Images。</p>
<h2>開放金庫</h2>
<p>摩根大通 宣佈計劃提高股息，同時其董事會已授權一項新的股票回購計劃。這兩項都是相當可觀的。</p>
<p>讓我們先談談 股息 的提高。該銀行計劃在下次分配中每股支付 1.65 美元的季度股息，比最近的 1.50 美元的股息高出 10%。</p>
<p>這一提議的提高需經董事會批准。因此，公司沒有提供潛在的除息或支付日期。在最近的收盤股價下，這將帶來不到 2% 的收益率，顯著高於當前標準普爾 500 指數所有股票的平均收益率（低於 1.1%）。</p>
<p>至於回購計劃，摩根大通的董事會已授權一項 500 億美元的計劃，沒有設定到期日期。這項計劃將於下週三，即 7 月 1 日生效，和大多數此類計劃一樣，這些自購的時機和金額將由管理層自行決定。</p>
<p>展開</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvSlBNLnBuZyV1MDAyNnc9MTI4JXUwMDI2b3A9cmVzaXpl?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="摩根大通股票報價" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvSlBNLnBuZyV1MDAyNnc9MTI4JXUwMDI2b3A9cmVzaXpl"/></p>
<h2>NYSE: JPM</h2>
<p>摩根大通</p>
<p>今日變動</p>
<p>(0.47%) $1.57</p>
<p>當前價格</p>
<p>$335.02</p>
<h3>關鍵數據點</h3>
<p>市值</p>
<p>$8980 億</p>
<p>日內區間</p>
<p>$334.63 - $343.34</p>
<p>52 周區間</p>
<p>$279.10 - $343.45</p>
<p>成交量</p>
<p>324</p>
<p>平均成交量</p>
<p>890 萬</p>
<p>股息收益率</p>
<p>1.76%</p>
<h2>2026 年的大解凍</h2>
<p>雖然雙位數的股息提高和十位數的股票回購計劃無疑對投資者有利，但我們需要了解它們是如何成為可能的。</p>
<p>作為對銀行的監管的一部分，美聯儲要求設定壓力資本緩衝（SCB）。這是國家大型貸款機構需要持有的資金，超出普通股一級資本（CET1）——這是法律規定的最低要求。美聯儲根據監管機構認為貸款機構需要的資本 “緩衝” 量，為每家總資產至少為 1000 億美元的銀行量身定製 SCB。</p>
<p>在壓力測試的幾個月前，2 月份，美聯儲凍結了今年剩餘時間和 2027 年的現有 SCB 要求。此前，它在測試結果公佈後不久開始這一過程，並在 8 月底最終確定。該要求將於 10 月 1 日生效。</p>
<p>這一漫長而繁瑣的過程使得大型銀行難以有效規劃其資本分配策略。像大型銀行常做的那樣，他們對此進行了激烈的抱怨，並遊説進行改變。值得稱讚的是，美聯儲聽取了這些批評，並決定採取行動，通過年初的凍結給貸款機構應有的喘息空間。</p>
<p>當前的制度更為合理，更為清晰，使銀行對需要保持的總資本有了更好的瞭解……並且，間接地，更清晰地瞭解可用於股東滿意措施（如股息提高和股票回購）的資金。</p>
<h2>雙位數的競賽</h2>
<p>雖然季度股息提高 10% 令人印象深刻，但我應該指出，與其他公司宣佈的提議相比，這實際上有點低。</p>
<p>白手套投資銀行 <strong>摩根士丹利</strong>（MS +0.54%）幾乎沒有浪費時間宣佈將股息提高 15% 至每股 1.15 美元；這將使收益率上升至 2%。它也走上了股票回購的道路，重新授權其 200 億美元的計劃。</p>
<p>這兩家貸款機構都被一家較小的競爭對手 <strong>紐約梅隆銀行</strong>（BNY +1.30%）超越，該行宣佈了 19% 的股息提高。新的季度金額為每股 0.63 美元，理論收益率為 1.7%。</p>
<p>摩根大通是美國所謂的四大銀行之一。其他兩家銀行也毫不意外地宣佈了提高季度分配的意圖（唯一的例外是 <strong>美國銀行</strong>（BAC +0.57%））。<strong>花旗集團</strong>（C +0.86%）計劃將其分配提高 12% 至每股 0.67 美元。<strong>富國銀行</strong>（WFC +0.52%）計劃將其提高 11% 至每股 0.50 美元。前者的收益率將為 1.8%，而後者的收益率為 2.4%。</p>
<h2>時代的標誌</h2>
<p>摩根大通長期任職的首席執行官傑米·戴蒙創造了 “堡壘資產負債表” 這一術語，這恰如其分地契合了該銀行的戰略。憑藉其始終堅如磐石的資本基礎，自金融危機以來，該銀行已通過了每一次壓力測試。</p>
<p>因此，公司的兩位數股息增長並不令人驚訝；新股回購計劃也是如此（我們對其他宣佈的銀行也可以這樣説）。考慮到這一點，我認為這些舉措本身不會推動銀行股票上漲。然而，它們確實有助於提升公司情緒，因為它們傳達了對公司表現良好並將繼續繁榮的信心。</p>

摩根大通

JPMO

<p>摩根大通通過了美聯儲的 2026 年壓力測試，允許將股息提高 10% 至每股 1.65 美元，並授權一項新的 500 億美元股票回購計劃。該銀行與其他主要貸款機構一起，在成功的監管評估後向股東返還資本</p>

<p>First the win, now the prizes.</p>
<div class="lb-trans"><p>首先是勝利，現在是獎勵。</p>
</div><p>Along with 31 other banks and bank-adjacent finance sector companies, <strong>JPMorgan Chase</strong>( JPM +0.47%) crushed the Federal Reserve’s (Fed) annual stress tests for 2026. Had it failed, the Fed would have placed restrictions on capital allocations and employee bonuses. But no — without such limits, it now has more scope to return monies to its shareholders and, sure enough, just after the test results were announced, the bank trumpeted two new, investor-pleasing moves in this realm.</p>
<div class="lb-trans"><p>與其他 31 家 銀行 及銀行相關的金融公司一起，<strong>摩根大通</strong>（JPM +0.47%）在 2026 年的美聯儲（Fed）年度 壓力測試 中表現出色。如果未能通過，美聯儲將對資本分配和員工獎金施加限制。但沒有——在沒有這些限制的情況下，它現在有更多的空間將資金返還給股東，果然，在測試結果公佈後，該銀行在這一領域宣佈了兩項新的、令人滿意的舉措。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2Nkbi5jb250ZW50LmZvb2xjZG4uY29tL2ltYWdlcy8xdW1uOXFlaC9wcm9kdWN0aW9uLzY1MDJiOWI4YWJhNTVkOTA3YTcwMTIxYzFlMThmZGFmYTc0NDYyZjMtNTA2N3gzNzEwLmpwZz93PTUwNjcmaD0zNzEwJnE9NzUmYXV0bz1mb3JtYXQmdz0zODQw" alt="Person placing money in both hands of another person." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fcdn.content.foolcdn.com%2Fimages%2F1umn9qeh%2Fproduction%2F6502b9b8aba55d907a70121c1e18fdafa74462f3-5067x3710.jpg%3Fw%3D5067%26h%3D3710%26q%3D75%26auto%3Dformat&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Opening the coffers</h2>
<div class="lb-trans"><h2>開放金庫</h2>
</div><p>JPMorgan Chase announced it intended to raise its dividend, while its board has authorized a new share buyback program. Both are considerable.</p>
<div class="lb-trans"><p>摩根大通 宣佈計劃提高股息，同時其董事會已授權一項新的股票回購計劃。這兩項都是相當可觀的。</p>
</div><p>Let’s start with the dividend raise. The bank is aiming for a $ 1.65-per-share quarterly payout with its next distribution, exactly 10% higher than the most recent dividend of $1.50.</p>
<div class="lb-trans"><p>讓我們先談談 股息 的提高。該銀行計劃在下次分配中每股支付 1.65 美元的季度股息，比最近的 1.50 美元的股息高出 10%。</p>
</div><p>This proposed hike is subject to the board’s approval. Because of this, the company didn’t provide either the potential ex-dividend or payment dates for the payout. At the most recent closing stock price, it would yield just under 2%, which is notably higher than the current sub-1.1% average of all stocks on the bellwether <strong>S&amp;P 500</strong> index.</p>
<div class="lb-trans"><p>這一提議的提高需經董事會批准。因此，公司沒有提供潛在的除息或支付日期。在最近的收盤股價下，這將帶來不到 2% 的收益率，顯著高於當前標準普爾 500 指數所有股票的平均收益率（低於 1.1%）。</p>
</div><p>As for the buyback program,  JPMorgan Chase’s board has authorized a $50 billion initiative, with no set expiration date. This kicks in next Wednesday, July 1, and as in most such initiatives, the timing and amount of these self-purchases will be at management’s discretion.</p>
<div class="lb-trans"><p>至於回購計劃，摩根大通的董事會已授權一項 500 億美元的計劃，沒有設定到期日期。這項計劃將於下週三，即 7 月 1 日生效，和大多數此類計劃一樣，這些自購的時機和金額將由管理層自行決定。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展開</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0pQTS5wbmcmdz0xMjg" alt="JPMorgan Chase Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FJPM.png&amp;w=128&amp;op=resize"/></p>
<h2>NYSE: JPM</h2>
<div class="lb-trans"><h2>NYSE: JPM</h2>
</div><p>JPMorgan Chase</p>
<div class="lb-trans"><p>摩根大通</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日變動</p>
</div><p>(0.47%) $1.57</p>
<div class="lb-trans"><p>(0.47%) $1.57</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>當前價格</p>
</div><p>$335.02</p>
<div class="lb-trans"><p>$335.02</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>關鍵數據點</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$898B</p>
<div class="lb-trans"><p>$8980 億</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日內區間</p>
</div><p>$334.63 - $343.34</p>
<div class="lb-trans"><p>$334.63 - $343.34</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周區間</p>
</div><p>$279.10 - $343.45</p>
<div class="lb-trans"><p>$279.10 - $343.45</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>324</p>
<div class="lb-trans"><p>324</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>8.9M</p>
<div class="lb-trans"><p>890 萬</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>1.76%</p>
<div class="lb-trans"><p>1.76%</p>
</div><h2>The great thaw of 2026</h2>
<div class="lb-trans"><h2>2026 年的大解凍</h2>
</div><p>While a double-digit dividend raise and an 11-figure share buyback program are indisputably beneficial for investors, we need to get a fix on how they were made possible.</p>
<div class="lb-trans"><p>雖然雙位數的股息提高和十位數的股票回購計劃無疑對投資者有利，但我們需要了解它們是如何成為可能的。</p>
</div><p>As part of its oversight on banks, the Fed mandates the stress capital buffer (SCB). This is the amount of money the nation’s large lenders are required to hold on top of common equity tier 1 capital (CET!) — the bare legal minimum to have on hand. The Fed tailors the SCB to each bank with total assets of at least $100 billion, based on how much of a capital “cushion” the regulator believes the lender needs.</p>
<div class="lb-trans"><p>作為對銀行的監管的一部分，美聯儲要求設定壓力資本緩衝（SCB）。這是國家大型貸款機構需要持有的資金，超出普通股一級資本（CET1）——這是法律規定的最低要求。美聯儲根據監管機構認為貸款機構需要的資本 “緩衝” 量，為每家總資產至少為 1000 億美元的銀行量身定製 SCB。</p>
</div><p>In February, several months before the stress tests, the Fed froze the existing SCB requirements for the remainder of this year and into 2027. Previously, it had begun the process just after the test results came out, finalizing it only by the end of August. It would come into force on Oct. 1.</p>
<div class="lb-trans"><p>在壓力測試的幾個月前，2 月份，美聯儲凍結了今年剩餘時間和 2027 年的現有 SCB 要求。此前，它在測試結果公佈後不久開始這一過程，並在 8 月底最終確定。該要求將於 10 月 1 日生效。</p>
</div><p>That long, cumbersome process made the SCB difficult for the big banks to plan their capital allocation strategies effectively. As big banks often do, they complained vociferously about this and lobbied for a change. To its credit, the Fed heard these criticisms and decided to act, giving the lenders a deserved break with the early-in-the-year freeze.</p>
<div class="lb-trans"><p>這一漫長而繁瑣的過程使得大型銀行難以有效規劃其資本分配策略。像大型銀行常做的那樣，他們對此進行了激烈的抱怨，並遊説進行改變。值得稱讚的是，美聯儲聽取了這些批評，並決定採取行動，通過年初的凍結給貸款機構應有的喘息空間。</p>
</div><p>The current regime makes more sense, is cleaner, and gives the banks a much better idea of how much total capital they’ll need to keep on hand… and, by extension, a clearer view of what’s available for shareholder-pleasing measures like dividend raises and share buybacks.</p>
<div class="lb-trans"><p>當前的制度更為合理，更為清晰，使銀行對需要保持的總資本有了更好的瞭解……並且，間接地，更清晰地瞭解可用於股東滿意措施（如股息提高和股票回購）的資金。</p>
</div><h2>Double-digit derby</h2>
<div class="lb-trans"><h2>雙位數的競賽</h2>
</div><p>While a 10% raise in a quarterly dividend is impressive, I should point out that it’s actually a bit low compared to the proposed bumps announced by other companies earning a passing grade.</p>
<div class="lb-trans"><p>雖然季度股息提高 10% 令人印象深刻，但我應該指出，與其他公司宣佈的提議相比，這實際上有點低。</p>
</div><p>White-shoe investment bank <strong>Morgan Stanley</strong>( MS +0.54%) wasted almost no time announcing a 15% increase in its dividend to $1.15 per share; that’ll push the yield up to 2%. It’s going the share buyback route too, with a reauthorization of its $20 billion initiative.</p>
<div class="lb-trans"><p>白手套投資銀行 <strong>摩根士丹利</strong>（MS +0.54%）幾乎沒有浪費時間宣佈將股息提高 15% 至每股 1.15 美元；這將使收益率上升至 2%。它也走上了股票回購的道路，重新授權其 200 億美元的計劃。</p>
</div><p>Both lenders were topped by a smaller rival, <strong>Bank of New York Mellon</strong>( BNY +1.30%), with a beefy 19% dividend raise. The new quarterly amount is $0.63 per share, yielding a theoretical 1.7%.</p>
<div class="lb-trans"><p>這兩家貸款機構都被一家較小的競爭對手 <strong>紐約梅隆銀行</strong>（BNY +1.30%）超越，該行宣佈了 19% 的股息提高。新的季度金額為每股 0.63 美元，理論收益率為 1.7%。</p>
</div><p>JPMorgan Chase is one of this country’s so-called Big Four banks. Two of the others also, unsurprisingly, declared intent to raise their quarterly payouts (the one holdout is <strong>Bank of America</strong>( BAC +0.57%)). <strong>Citigroup</strong>( C +0.86%) aims to boost its distribution by 12% to $0.67 per share. <strong>Wells Fargo</strong>( WFC +0.52%) is planning for an 11% increase to $0.50 per share. The former’s yield would be 1.8%, while the latter’s is 2.4%.</p>
<div class="lb-trans"><p>摩根大通是美國所謂的四大銀行之一。其他兩家銀行也毫不意外地宣佈了提高季度分配的意圖（唯一的例外是 <strong>美國銀行</strong>（BAC +0.57%））。<strong>花旗集團</strong>（C +0.86%）計劃將其分配提高 12% 至每股 0.67 美元。<strong>富國銀行</strong>（WFC +0.52%）計劃將其提高 11% 至每股 0.50 美元。前者的收益率將為 1.8%，而後者的收益率為 2.4%。</p>
</div><h2>Sign of the times</h2>
<div class="lb-trans"><h2>時代的標誌</h2>
</div><p>JPMorgan Chase’s long-serving CEO Jamie Dimon coined the term “fortress balance sheet,” which aptly fits the bank’s strategy. With its always-rock-solid capital base, it’s passed every stress test since the exams were first administered after the financial crisis of the late 2000s.</p>
<div class="lb-trans"><p>摩根大通長期任職的首席執行官傑米·戴蒙創造了 “堡壘資產負債表” 這一術語，這恰如其分地契合了該銀行的戰略。憑藉其始終堅如磐石的資本基礎，自金融危機以來，該銀行已通過了每一次壓力測試。</p>
</div><p>So the company’s double-digit dividend raise isn’t a surprise; ditto for the new share repurchase program (we can say the same for the other declaring banks, too). Given that, I don’t think these moves will push the bank’s stock higher in and of themselves. They do, however, help sentiment on the company, as they signal confidence that it’s done well and should continue to thrive.</p>
<div class="lb-trans"><p>因此，公司的兩位數股息增長並不令人驚訝；新股回購計劃也是如此（我們對其他宣佈的銀行也可以這樣説）。考慮到這一點，我認為這些舉措本身不會推動銀行股票上漲。然而，它們確實有助於提升公司情緒，因為它們傳達了對公司表現良好並將繼續繁榮的信心。</p>
</div>

JPMorgan Chase Pairs a 10% Dividend Hike With a New $50 Billion Buyback After Clearing the Fed's Stress Test

- 摩根大通在 2026 年壓力測試中表現良好，未受到資本限制。  
- 計劃將季度股息提高 10% 至 1.65 美元，並啓動 500 億美元回購計劃。  
- 美聯儲已凍結資本緩衝要求，為銀行提供更多資本配置靈活性。

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Defiance Daily Target 2X Long JPM ETF

YieldMax JPM Option Income Strategy ETF

標普 500 指數

摩根士丹利

Bank of NY Mellon

美國銀行

花旗

富國銀行

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

CITIGROUP INC 6.250 NON CUM SER II PFD WI

WELLS FARGO & COMPANY DP SHS REP 1/1000TH INT NCUM PFD CL A DD

WELLS FARGO & COMPANY 7.5% PERP CONV PRF CLS 'A' SERIES 'L'

WELLS FARGO & COMPANY DEP SHS REP 1/1000 INT PER PFD SER Y A

WELLS FARGO & COMPANY DP SHS REP 1/1000TH INT NCUM PFD CL A CC

WELLS FARGO & COMPANY 4.75% DEP SHS 1/1000 NCUM PFD CL A SR Z

WELLS FARGO & COMPANY DEP SHS REP 1/1000TH INT PFD SR AA (CLA)

摩根大通在通過美聯儲壓力測試後，宣佈將股息提高 10% 並推出新的 500 億美元股票回購計劃