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JPMorgan Chase Declares Common Stock Dividend and Formally Authorizes New Equity Repurchase Program
New York– March 17, 2015
The Board of Directors of JPMorgan Chase & Co. (NYSE:JPM) ("JPMorgan Chase" or the "Firm") today declared a quarterly dividend of 40 cents per share on the outstanding shares of the common stock of JPMorgan Chase. The dividend is payable on April 30, 2015, to stockholders of record at the close of business on April 6, 2015. As previously announced, the Board intends to increase the quarterly dividend, commencing with the second quarter of 2015, to 44 cents per share for stockholders of record on July 6, 2015, payable on July 31, 2015.
The Board also today formally authorized the previously announced new common equity repurchase program to repurchase up to $6.4 billion of common equity between April 1, 2015, and June 30, 2016. The Firm may continue to repurchase equity under its current common equity repurchase program, which expires on March 31, 2015.
The Firm's second quarter dividend will be subject to the Board's approval at the customary time that dividend is declared. The timing and exact amount of common equity repurchased will be consistent with the Firm's capital plan and will depend on various factors, including market conditions, the Firm's capital position, internal capital generation, alternative investment opportunities, and legal and regulatory considerations; the Firm's repurchase program does not include specific price targets or timetables, and may be executed through open market purchases or privately negotiated transactions, including the use of Rule 10b5-1 programs, and may be suspended at any time.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Sarah M. Youngwood, 212-270-7325
Joseph Evangelisti, 212-270-7438