(CNBC) Morgan Stanley, the Wall Street powerhouse, doubled its quarterly dividend and announced a new $12 billion stock repurchase plan. The bank said Monday that its dividend will jump to 70 cents a share starting in the third quarter, and it would buy up to $12 billion of its own stock through June 2022. Shares of Morgan Stanley popped almost 4% in after-hours trading.
Morgan Stanley doubles its dividend as most banks raise payouts following Fed stress tests
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