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Investing

Goldman Sachs & Morgan Stanley Get Dividend Approvals (GS, MS)

Photo of Jon C. Ogg
By Jon C. Ogg Published

Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) may soon be allowed to increase dividends, set share buybacks of their common stock, or make other planned shareholder friendly moves.

Goldman Sachs noted that the Federal Reserve did not object to its proposed capital actions through the first quarter of 2013.  These include repurchasing shares of common stock and an increase on the company’s quarterly dividend rate.  With a current dividend yield of 1.2%, maybe it should focus on the dividend.

Morgan Stanley received no Federal Reserve Board objection to its 2012 capital plan.  The bank (without a bank) has a plan which includes the potential acquisition of an additional 14% of Morgan Stanley Smith Barney as well as its dividends to common and preferred holders.

Goldman Sachs closed up 6.45% at $124.54 and Morgan Stanley closed up 4% at $18.93 and yields only 1.1%.

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Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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