JPMorgan Chase (JPM) Announces Plan to Increase Dividends

JPMorgan Chase & Co. (NYSE:JPM) is one of the 10 Best Non-Tech Stocks to Buy and Hold For 3 Years. On July 1, JPMorgan Chase & Co. (NYSE:JPM) announced plans to increase dividends and also authorized a new common share repurchase program.

The company announced that its Board of Directors intends to increase the quarterly common stock dividend from $1.40 to $1.50. The increase is subject to the approval of the board at the customary times of dividend declaration. The company has a forward dividend yield of 1.89% and has growth dividends at a growth rate of 8.04% during the past 5 years. Moreover, JPMorgan Chase & Co. (NYSE:JPM) also authorized a new common share repurchase program of $50 billion.

JPMorgan Chase & Co. (NYSE:JPM) is a global financial services firm that provides a wide range of banking and investment services. It operates through segments including Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management.

While we acknowledge the potential of JPM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.