JPMorgan Chase yield still lags peers, even after latest dividend increase

JPMorgan Chase yield still lags peers, even after latest dividend increase


By Steve Gelsi

The Dow component's yield now sits around 2.37%, below the SPDR S&P Bank ETF's 2.98%.

JPMorgan Chase & Co. said Wednesday it would increase its quarterly dividend by 9.5%, but even with the boost, its performance still lags that of its peers.

The increase from 10 cents per share to $1.15 per share for JPMorgan Chase's (JPM) quarterly dividend equates to a yield of about 2.37%, based on current stock prices.

That's less than Bank of America Corp.'s (BAC) 2.67%, Goldman Sachs Group Inc.'s (GS) 2.84%, Wells Fargo & Co.'s (WFC) 2.46% and 3.59% of Citigroup Inc. (C). according to FactSet data.

JPMorgan Chase's performance also lags that of the components of the SPDR S&P Bank KBE exchange-traded fund, which yields about 2.98%.

JPMorgan Chase shares rose 0.3% on Wednesday and are up 14.3% so far in 2024.

JPMorgan Chase is one of 30 stocks in the Dow Jones Industrial Average DJIA, which is up 3.7% so far this year. The S&P 500 SPX is now up 8.5%.

JPMorgan Chase shareholders of record as of the close of business on April 5 will receive a quarterly payment of $1.15 per share on April 30, the bank said.

In October, the bank paid a quarterly dividend of $1.05 per share, up from $1 per share previously.

The quarterly dividend had been $1 per share since October 2021, when it was raised from 90 cents per share.

Also Read: Wells Fargo Stock Priced Right After Raise, Analyst Says

-Steve Gelsi

This content was created by MarketWatch, operated by Dow Jones & Co. MarketWatch is published independently of Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones News

03-20-24 1045ET

Copyright (c) 2024 Dow Jones & Company, Inc.


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