*JPMORGAN CHASE, CITI, WELLS FARGO, GOLDMAN SACHS, MORGAN STANLEY RAISE DIVIDEND PAYOUTS AFTER PASSING FED STRESS TESTS $JPM $C $WFC $GS $MS
) hiked their third-quarter dividends on Friday after sailing through the Federal Reserve's annual health check, which showed they have enough capital to weather a severe economic downturn.
Under the Fed's scenario of a major economic slump, the 23 banks tested - including JPMorgan, Bank of America and Goldman Sachs - would suffer a combined $541 billion in losses, while still holding more than twice the amount of capital required. Citigroup repurchased $1 billon of common stock during the second quarter and will continue to evaluate its capital actions every quarter, CEO Jane Fraser said in a statement.
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