© Reuters. FILE PHOTO: People take photos by the Morgan Stanley building in Times Square in New York
NEW YORK (Reuters) – Morgan Stanley (NYSE:) plans to increase the dividend it pays shareholders when restrictions are lifted by the Federal Reserve, according to a letter Chief Executive James Gorman sent to shareholders on Thursday.
The bank also set a long-term goal of achieving a return on tangible common equity (ROTCE) above 17%, according to the letter.
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