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Wednesday, August 17, 2022

Goldman Sachs and Wells Fargo Boost Shareholder Payouts

The largest U.S. banks said they would increase payouts to shareholders after the Federal Reserve said the banks are able to keep lending in a severe hypothetical recession.

Four of the six biggest banks boosted their dividend payments on Monday. The collective 15% increase in payouts is relatively muted compared with last year, when the banks raised dividends by 40%. Several banks also outlined plans to buy back their own stock.

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