Erika H. James Director | Morgan Stanley
Morgan Stanley has announced an increase in its quarterly common stock dividend to $1.00 per share, up from the current $0.925 per share. This change will take effect with the expected declaration by the firm's Board of Directors in the third quarter of 2025.
Additionally, Morgan Stanley's Board of Directors has reauthorized a multi-year common equity share repurchase program valued at up to $20 billion. This program, which does not have a set expiration date, will begin in the third quarter of 2025. The firm plans to conduct these share repurchases based on several factors including market conditions and its capital position.
Ted Pick, Chairman and Chief Executive Officer of Morgan Stanley, stated, “Our improved stress test results reflect the strength and durability of our franchise. We have a scaled and global business that drives the Firm’s financial strength, generating durable returns and supporting our ongoing flexibility to invest in our businesses and return capital to shareholders. We remain committed to consistently growing our quarterly dividend and are raising it by 7.5 cents to $1.00 per share.”
On June 27, 2025, the Federal Reserve's Board of Governors released its CCAR 2025 results. Consequently, Morgan Stanley expects to be subject to a Stress Capital Buffer (SCB) of 5.1% from October 1, 2025, through September 30, 2026 under current regulatory standards. This SCB contributes to an aggregate U.S. Basel III Standardized Approach Common Equity Tier 1 (CET1) ratio of 12.6%. As of March 31, 2025, Morgan Stanley reported a CET1 ratio of 15.3%.
The Federal Reserve has also issued a proposed rulemaking that could alter how large bank holding companies' SCBs are calculated if adopted. Morgan Stanley will provide updates on any changes resulting from this rulemaking as applicable.
Morgan Stanley is recognized globally for its financial services which include investment banking and management services across various sectors worldwide.