Morgan Stanley plans to raise dividend when Fed allows: letter

FILE PHOTO: People take photos by the Morgan Stanley building in Times Square in New York

NEW YORK (Reuters) – Morgan Stanley plans to increase the dividend it pays shareholders when restrictions are lifted by the Federal Reserve, according to a letter Chief Executive James Gorman sent to shareholders on Thursday.

qatar airways

The bank also set a long-term goal of achieving a return on tangible common equity (ROTCE) above 17%, according to the letter.

(Reporting By Elizabeth Dilts Marshall; Editing by Chris Reese)