© Reuters Goldman Sachs (GS) to Raise Dividend by 25% Following Stress Test
By Davit Kirakosyan
The Goldman Sachs Group , Inc. (NYSE:) announced plans to increase its common stock dividend from $2.00 to $2.50 per share (subject to approval by its Board of Directors at the customary Q3 meeting) following the completion of the Federal Reserve’s 2022 Comprehensive Capital Analysis and Review (CCAR) stress test process. Shares were trading around 2% higher after hours.
Fed notified the company of the Stress Capital Buffer (SCB) of 6.3%, resulting in a Standardized Common Equity Tier 1 (CET1) ratio requirement of 13.3%, effective on October 1, 2022.