05:02 PM EDT, 06/28/2024 (MT Newswires) -- JPMorgan Chase ( JPM ) said Friday its board approved a new share buyback program of $30 billion, effective Monday.

The authorization to repurchase shares "will be used at management's discretion," and the timing and the exact amount "will be subject to various considerations," the company said.

The bank also plans to increase the Q3 dividend to $1.25 a share from $1.15.

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