A number of the largest banks in america introduced plans to extend their dividends after passing the most recent Federal Reserve stress check.JPMorgan Chase (JPM) is elevating its dividend to $1.25 per share from $1.15. The financial institution’s board additionally licensed a $30 billion share repurchase plan.Financial institution of America (BAC) is boosting its dividend to $0.26/share from $0.24, Citigroup’s (C) dividend goes to $0.56/share from $0.53, and Wells Fargo’s (WFC) dividend rises to $0.40 from $0.35.Yahoo Finance anchor Julie Hyman breaks down the numbers within the video above.For extra skilled perception and the most recent market motion, click on right here to observe this full episode of Asking for a Development.This publish was written by Stephanie Mikulich.Video TranscriptAmerica’s largest banks, unveiling capital plans after the outcomes of the stress check earlier this week.Julie Hyman is again right here with us with the very newest particulars.Julie.So what?Principally what we’ve got now are the entire large banks letting us know what their dividends can be and what their inventory buyback plans can be.So let me provide the headlines first after which clarify what is going on on right here and why we’re studying about this proper now.Citigroup.Let’s begin.There’s, uh, planning a quarterly dividend of 56 cents a share right here.That is a rise within the firm’s, uh, dividend right here by, uh, a number of cents right here we have JP.Morgan says it should increase its quarterly dividend to a buck 25 from a greenback 15 and JP.Morgan can be planning, um, a brand new buyback plan of as much as $30 billion.That is its new authorization that replaces its earlier authorization.Wells Fargo stated it should increase its third quarter inventory dividend to 40 cents a share.It is a achieve of about 14% of for that firm, and you then even have B of a Financial institution of America which can be elevating its dividend as a part of this to 26 cents a share from 24 cents a share.Why are we getting all of those proper now?Nicely, as you already know, as a result of our Jennifer Schomer coated it yearly.The banks must undergo this stress testing from the Federal Reserve.This was one thing enacted throughout the monetary disaster.As you already know, that made positive that the banks had satisfactory capital within the occasion of an emergency.So that they kind of mannequin the fed, fashions it out.The whole lot goes to hell prefer it did, uh, throughout the monetary disaster.How would these banks look?Would they’ve sufficient capital to cowl their losses?As soon as they go these stress exams, then the banks can provide you with a capital return plan.IE buybacks and dividends.They submit that for approval, they get authorised.Story continuesThen all of them announce it on the identical day.So that’s the place we’re at.Which is why in the event you’re an investor in a giant financial institution, you had been watching these stress exams?Yeah, you had been ready.What had been you gonna get again by way of, um, the money.So I simply talked about a number of of them.However any financial institution you possibly can consider at present is popping out with this info.Um, and so in the event you’re an investor in any of those banks, you must take a look at.For instance, Morgan Stanley, its dividend going to 92.5 cents purchase again of as much as $20 billion.fifth, third out with its information on this too.So all the entire banks popping out with their Julie.Thanks.Respect it.