JPMorgan Chase Approves $50 Billion Share Buyback and Dividend Hike While Goldman Sachs Boosts Payout After Fed Stress Test Confirms Strong Capital Positions

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the America Business Forum in Miami, Florida, US, on Thursday, Nov. 6, 2025.

Eva Marie Uzcategui | Bloomberg | Getty Images

JPMorgan Chase announced a $50 billion share repurchase program and a 10% increase to its quarterly dividend on Wednesday, following the Federal Reserve’s annual stress test which confirmed the bank’s robust capital position.

The firm will raise its quarterly dividend by 10% to $1.65 per share, pending board approval, and has authorized the $50 billion buyback plan, effective July 1.

“The Board’s intended dividend increase is supported by our consistent investment in our business and strong financial performance,” JPMorgan CEO Jamie Dimon said in a statement. “As always, we are prepared for a wide range of scenarios, including the hypothetical 2026 supervisory severely adverse scenario.”

Goldman Sachs also increased its quarterly dividend by 11% to $5 per share, citing its solid earnings and capital strength.

The Federal Reserve’s annual stress test showed that all 32 large banks stayed above their minimum capital requirements, even after a scenario of hypothetical recession that would generate over $708 billion in projected industry losses.

This year’s results will not alter banks’ capital requirements, as the Fed has kept stress capital buffers unchanged through 2027 while it refines its testing methodology, giving banks a clear view of their capital needs.

Analysts anticipated minimal immediate impact, and the banks’ decision to raise payouts reflects confidence despite the ongoing regulatory uncertainty.

KBW described the test as merely “going through the motions,” noting that investors are now more attentive to the forthcoming Basel III Endgame proposal than to the Fed’s annual exercise.

This story is developing. Please check back for updates.

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