Banks Advised To Halt Dividend Increase Plans (JPM, GS)
By Benzinga Staff
March 10, 2010 3:50 PM
March 10, 2010 3:50 PM
US regulators have advised banks not to increase dividends, or buy back shares.
Major banks such a s JPMorgan Chase & Co. (NYSE: JPM), and Goldman Sachs (NYSE: GS) had expressed their intention to pay back to their investors. However, these plans are likely to be put on a hold now. Various government agencies such as the US Treasury have asked the banks to wait till the economic uncertainty is over.
The Treasury has asked the banks to halt their dividend increase plans until the economic, and legislative scenario is clearer.
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