Morgan Stanley Boosts Dividend to $1.15, Authorizes $20B Buyback

Dividend Increase and Share Repurchase Authorization

Morgan Stanley (NYSE: MS) has announced a 15-cent increase in its quarterly common stock dividend, bringing it to $1.15 per share from the previous $1.00. The new dividend is expected to be declared by the Board of Directors in the third quarter of 2026. Additionally, the Board has reauthorized a multi-year common equity share repurchase program of up to $20 billion, with no set expiration date, also beginning in Q3 2026. The timing and amount of repurchases will depend on market conditions, the firm's capital position, and its future economic and earnings outlook.

CEO Statement and Regulatory Context

Ted Pick, Chairman and Chief Executive Officer, commented, "We have a globally scaled business that supports the Firm's durable returns and strong capital position. Our financial strength gives us ongoing flexibility to invest in growth opportunities across the Integrated Firm while increasing the return of capital to shareholders."

The Federal Reserve's CCAR 2026 results, released on June 24, 2026, do not impact the firm's Stress Capital Buffer (SCB) requirement. On February 4, 2026, the Fed indicated that Morgan Stanley will continue to be subject to its current SCB of 4.3% until October 1, 2027, after which a new requirement may apply based on the 2027 supervisory stress test. This SCB, combined with other regulatory capital framework features, results in an aggregate U.S. Basel III Standardized Approach Common Equity Tier 1 (CET1) ratio of 11.8%. As of March 31, 2026, the firm's actual CET1 ratio was 15.1%, well above the requirement.

Company Overview

Morgan Stanley is a leading global financial services firm offering investment banking, securities, wealth management, and investment management services. With offices in 42 countries, it serves corporations, governments, institutions, and individuals worldwide.

What it means for income investors

This dividend increase and share repurchase authorization reflect Morgan Stanley's strong capital position and commitment to returning capital to shareholders. The higher dividend provides a modest boost to income, while the buyback program could support earnings per share over time.

Reporting based on: Morgan Stanley. Figures verified against market data where available.