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Morgan Stanley To Buy Back Up To $6.0 Bln Of Stock

Morgan Stanley (MS) said that its board authorized a share repurchase of up to $6.0 billion of common stock beginning in the third quarter of 2019 through the end of the second quarter of 2020.

The company declared a $0.35 quarterly dividend per share, an increase from $0.30 per share, payable on August 15, 2019.

Morgan Stanley reported that its net income applicable to the company for the
second quarter ended June 30, 2019 was $2.2 billion or $1.23 per share, compared to net income of $2.4 billion or $1.30 per share for the same period a year ago.

Net revenues were $10.2 billion compared with $10.6 billion a year ago.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.14 per share and revenues of $9.99 billion for the quarter. Analysts' estimates typically exclude special items.

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