JP Morgan Chase & Co shares are trending on Wednesday. Here’s a look at what’s going on.

What To Know: JPMorgan ( JPM ) shares traded higher in after-hours Tuesday after the company announced a dividend increase and authorized a new buyback.

The company’s board announced that it intends to increase the quarterly stock dividend from $1.40 per share to $1.50 per share for the third quarter.

JPMorgan’s board also announced a share repurchase program of $50 billion, effective as of Tuesday.

“The Board's intended dividend increase, our second this year, represents a sustainable level of capital distribution to our shareholders and is supported by our strong financial performance. The new share repurchase program provides the ability to distribute capital to our shareholders over time, as we see fit,” said Jamie Dimon, chairman and CEO of JPMorgan ( JPM ).

“Our fortress balance sheet, with significant excess capital and robust liquidity, enables us to be a pillar of strength — in both good times and bad times — allowing us to consistently serve our clients, communities, and countries throughout the world.”

The news comes after JPMorgan ( JPM ) completed its stress test. The Federal Reserve lowered the bank’s Stress Capital Buffer requirement from 3.3% to 2.5% and its Standardized Common Equity Tier 1 capital ratio requirement from 12.3% to 11.5%. The new requirements are set to become effective on Oct. 1.

JPM Price Action: JPMorgan ( JPM ) shares traded up to around $293 in after-hours trading Tuesday before pulling back. The stock was down 0.11% at $290.12 at the time of publication Wednesday, according to Benzinga Pro.

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