Stress test passed, major banks such as JPMorgan Chase, Goldman Sachs increase dividends.

On June 24th, local time, the Federal Reserve's stress tests showed that all banks under examination could maintain sufficient capital to withstand the impact of an assumed economic downturn. Following the release of the Federal Reserve's annual assessment results, JPMorgan Chase increased its quarterly dividend from $1.50 per share to $1.65 per share, while Goldman Sachs raised its dividend from $4.50 to $5 per share. Additionally, JPMorgan Chase approved a new $500 billion stock buyback plan, which will take effect on July 1st.