JP Morgan Chase announces unexpected dividend increase

Source: Bloomberg
JP Morgan Chase & Co the largest US lender unexpectedly announced it received a permission for a 20% dividend raise. The dividend will be increased from USD 0.25 to USD 0.30 a share. Bank's disclosure forced its competitors including Wells Fargo & Co and PNC Financial Services to post their dividend proposals. JP Morgan rallied 7% on the announcement, supporting leading stock indices.  
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