Why Morgan Stanley Is Trading Higher Today

Morgan Stanley MS is trading higher Tuesday morning after the company doubled its quarterly dividend and increased its buyback to $12 billion. 

Morgan Stanley announced it will raise its quarterly common stock dividend from 35 cents per share to 70 cents per share. The $12-billion repurchase authorization is set to take place over the next 12 months. 

“The Board of Directors has approved a 100 percent increase in our dividend and an increase of our share repurchase program to $12 billion. Morgan Stanley has accumulated significant excess capital over the past several years and now has one of the largest capital buffers in the industry," James Gorman, chairman and CEO of Morgan Stanley, said in a statement. 

Other Bank Dividend Increases: JPMorgan Chase & Co JPM raised its quarterly dividend from 90 cents per share to $1 per share.

Goldman Sachs Group Inc GS raised its quarterly dividend from $1.25 per share to $2 per share.

Bank Of America Corp BAC raised its quarterly dividend from 18 cents per share to 21 cents per share.

Wells Fargo & Co WFC raised its quarterly dividend from 10 cents per share to 20 cents per share.

Price Action: Morgan Stanley has traded as high as $94.27 and as low as $45.86 over a 52-week period. 

At last check Tuesday, the stock was up 3.44% in premarket trading at $90.72.

Photo: courtesy of Morgan Stanley.