JPM cuts dividend to boost reserves

JPMorgan cut its quarterly dividend from 38c to 5c a share last month, in a bid to build up $5 billion in additional capital reserves.

The bank's chairman, Jamie Dimon, hinted at three possible uses for the capital: debt repayments, as a war chest or as a safety net.

The bank received $25 billion in investment from the US government last year under the Troubled Assets Relief Programme, and Dimon said the dividend cut would "help position us to repay Tarp as soon as is prudent, while still

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here