JPMorgan, Bank of America, Citi and Goldman maintain dividends post-stress tests, Wells Fargo to cut – CNBC

Offered the unprecedented tension Covid-19 has put on the American economy, the Fed last week announced brand-new constraints on the U.S. banking industry.Heres what Goldman Sachs, Bank of America, Wells Fargo, Citigroup, JPMorgan and Morgan Stanley said: Goldman SachsPer-share dividend for quarter ended March 31: $1.25 New dividend: $1.25 Notable commentary:”Our durable profits profile, continued efficiency, and extremely liquid balance sheet enable us to serve our customers, maintain our dividend, and deliver for all our stakeholders,” stated Chairman and CEO David Solomon.”CitigroupPer-share dividend for quarter ended March 31: 51 centsNew dividend: 51 centsNotable commentary:”While we will continue to assess our organized capital actions relative to the most recent monetary and macroeconomic conditions, we believe we are well positioned to continue to support our clients and the more comprehensive economy, while also continuing with our planned capital actions,” stated CEO Michael Corbat.”Bank of AmericaPer-share dividend for quarter ended March 31: 18 centsNew dividend: 18 centsNotable commentary:”Bank of America is committed to returning capital to shareholders over time, in excess of what is required throughout economic cycles to grow the company and support customers, neighborhoods and the international economy.”JPMorgan ChasePer-share dividend for quarter ended March 31: 90 centsNew dividend: 90 centsNotable commentary:”At this time, using both JPMorgan Chases and the Federal Reserves base case economic outlook, the Firm can continue to pay its dividend in future quarters while keeping healthy capital and liquidity positons.

Given the extraordinary stress Covid-19 has actually put on the American economy, the Fed last week announced brand-new constraints on the U.S. banking industry.Heres what Goldman Sachs, Bank of America, Wells Fargo, Citigroup, JPMorgan and Morgan Stanley said: Goldman SachsPer-share dividend for quarter ended March 31: $1.25 New dividend: $1.25 Notable commentary:”Our resilient earnings profile, continued performance, and extremely liquid balance sheet enable us to serve our clients, maintain our dividend, and deliver for all our stakeholders,” stated Chairman and CEO David Solomon.”CitigroupPer-share dividend for quarter ended March 31: 51 centsNew dividend: 51 centsNotable commentary:”While we will continue to evaluate our organized capital actions relative to the most recent monetary and macroeconomic conditions, we think we are well positioned to continue to support our consumers and the more comprehensive economy, while also continuing with our organized capital actions,” stated CEO Michael Corbat.”JPMorgan ChasePer-share dividend for quarter ended March 31: 90 centsNew dividend: 90 centsNotable commentary:”At this time, utilizing both JPMorgan Chases and the Federal Reserves base case economic outlook, the Firm can continue to pay its dividend in future quarters while maintaining healthy capital and liquidity positons.