Morgan Stanley, owner of the world’s largest brokerage, will seek to boost its dividend yield to about 2 percent and eventually return all of annual earnings to investors, Chief Executive Officer James Gorman said.
Goldman Sachs Group Inc., the Wall Street bank with the highest return on equity in 2013, reported earnings that topped analysts’ estimates as investment-banking revenue jumped to the highest level since the financial crisis.
Morgan Stanley reported profit that beat analysts’ estimates as a surprise jump in fixed-income results helped the firm post the only increase in trading revenue among the six biggest U.S. banks this year. The stock rose 3 percent in early New York trading.
Goldman Sachs Group Inc. awarded Chief Executive Officer Lloyd C. Blankfein a $6 million cash bonus to be paid out in three years if he meets certain targets, on top of $23 million in 2013 compensation.