Led by BofA, US banks doubled distributions in 2021

Stock buybacks and dividends hit $117.7 billion last year

Top US lenders spent $117.7 billion in 2021 amid a frenzy of stock buybacks and hike in dividends, Risk Quantum analysis shows.

On aggregate, the country’s eight global systemic banks increased spending from their Common Equity Tier 1 (CET1) capital reserves by 111% compared to the year prior. Some 13% of their quarterly average CET1 reserves was used on buybacks and common dividends, compared to 6.8% through 2020.

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While total dividends paid increased relatively little, by 11% to $36

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