Wall Street record dividends
Morgan Stanley cuts profits due to international economic uncertainties
The uncertainties of the world economy were also reflected in the powerful Morgan Stanley bank which decreased its profits in the first six months of the year. “Our company has achieved solid results in a challenging financial context – argued the president and CEO of Morgan Stanley, James Gorman – the quarter began with macroeconomic uncertainty and weak demand, but ended on a more constructive tone”. The reported quarterly dividend is $0.85, 7.5 cents up, paid as of Aug. 15. Between January and June 2023, net income was $5,162 million, a decrease of 16% compared to the same period in 2022. What are the main causes? Two in particular: the criticalities of the economy and the “calm” of merger and acquisition operations. In any case, the company has decided to relaunch the forecasts, improving them (tripling the important assets) and this has given the headlines a head start. grew by 6.8%.
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