Morgan Stanley (INDEXNYSEGIS:CMR) Files An 8-K Other Events
Item 8.01 Other Events.
Morgan Stanley (the Company) today announced that the Board of
Governors of the Federal Reserve System did not object to the
Companys 2017 capital plan (Capital Plan). The Capital Plan
includes the repurchase of up to $5 billion of outstanding common
stock for the four quarters beginning in the third quarter of
2017 through the end of the second quarter of 2018, an increase
from $3.5 billion in the 2016 Capital Plan, as well as an
increase in the Companys quarterly common stock dividend to $0.25
per share from the current $0.20 per share, beginning with the
common stock dividend expected to be declared for the third
quarter of 2017.
Share repurchases under the Companys existing program authorized
by the Board of Directors will be exercised from time to time
through June 30, 2018, at prices the Company deems appropriate
subject to various factors, including the Companys capital
position and market conditions. The share repurchases may be
effected through open market purchases or privately negotiated
transactions, including through Rule 10b5-1 plans, and may be
suspended at any time. The Companys Board of Directors intends to
increase the Companys quarterly common stock dividend to $0.25
per share, beginning in the third quarter of 2017.
A copy of the press release relating to this announcement is
attached as Exhibit 99.1 hereto and is incorporated herein by
reference.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking
statements. Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date on
which they are made and which reflect managements current
estimates, projections, expectations or beliefs and which are
subject to risks and uncertainties that may cause actual results
to differ materially. For a discussion of additional risks and
uncertainties that may affect the future results, financial
position or capital of the Company, please see Forward-Looking
Statements immediately preceding Part I, Item 1, Competition and
Supervision and Regulation in Part I, Item 1, Risk Factors in
Part I, Item 1A, Legal Proceedings in Part I, Item 3, Managements
Discussion and Analysis of Financial Condition and Results of
Operations in Part II, Item 7 and Quantitative and Qualitative
Disclosures about Market Risk in Part II, Item 7A of the Companys
Annual Report on Form 10-K for the year ended December 31, 2016
and other items throughout the Form 10-K and the Companys
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K,
including any amendments thereto.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit Number |
Description |
| 99.1 | Press Release issued by Morgan Stanley dated June 28, 2017 |
MORGAN STANLEY ExhibitEX-99.1 2 dp77766_ex9901.htm EXHIBIT 99.1 EXHIBIT 99.1 FOR IMMEDIATE RELEASE JUNE 28,…To view the full exhibit click here
