JPMorgan Chase (JPM) is raising its quarterly dividend payment for the second time in six months as the world's largest bank reports record profits.
The New York-based lender said it is increasing its dividend by 9.50% to $1.15 U.S. a share. Previously, the bank paid a dividend of $1.05 U.S. a share.
This is the second time in six months that JPMorgan has lifted its dividend payout to stockholders. The company last raised its dividend in October 2023, taking it to $1.05 U.S. a share from $1 U.S.
The latest dividend increase comes as JPMorgan Chase reported a record profit of $49.50 billion U.S. for all of 2023.
News of the record profit and dividend increase come as JPMorgan’s share price is at a record high of $193.79 U.S. The stock has increased 52% in the last 12 months.
