Morgan Stanley is to scrap the bonus cap for its London bankers in a post-Brexit shake-up that paves the way for multimillion-pound payouts to top performers.
NEW YORK, June 28, 2024--Morgan Stanley (NYSE: MS) announced that it will increase its quarterly common stock dividend to $0.925 per share from the current $0.85 per share, beginning with the common stock dividend expected to be declared by the Firm’s Board of Directors in the third quarter of 2024.
Morgan Stanley hit with cash-sweep suit. Morgan Stanley pays an interest rate of as little as 0.01% on customers’ uninvested cash in its default bank sweep program. Morgan Stanley declined to comment on the case.