As previously announced, JPMorgan Chase & Co (JPM) will raise its quarterly dividend by 11.1 percent from 90 cents to 100 cents per share in 2021. This comes after a 12.5 percent hike to $0.90 per share in 2019, marking the 9th consecutive year of dividend increases by the financial company. This new hike means 11 years in a row for JPM.
The next dividend will be paid on October 31, 2021 to JPM shareholders with the ex-dividend date being October 5, 2021. Based on a stock price of $166 the new annual dividend rate of $4.00 per share yields 2.4% to JPMorgan shareholders. JPM is one of the biggest dividend payers in the United States with an estimated $11.95 billion in dividends paid to shareholders annually.
JPMorgan Chase & Co. is engaged in investment banking and financial services. JPM operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The company provides services such as treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance.