American Express plans to boost its quarterly dividend to 20 cents per share from 18 cents. The New York-based company said Tuesday the Fed had no objections to the buyback or the dividend increase.
American Express joins a number of other financial institutions that said they will give more money back to shareholders after passing the stress tests.
Wells Fargo & Co., U.S. Bancorp, BB&T and JPMorgan Chase all say they will boost dividends.
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