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Morgan Stanley plans to lift dividend when Fed permits: letter By Reuters 



© Reuters. FILE PHOTO: Folks take pictures by the Morgan Stanley constructing in Instances Sq. in New York

NEW YORK (Reuters) – Morgan Stanley (NYSE:) plans to extend the dividend it pays shareholders when restrictions are lifted by the Federal Reserve, in keeping with a letter Chief Govt James Gorman despatched to shareholders on Thursday.

The financial institution additionally set a long-term purpose of attaining a return on tangible widespread fairness (ROTCE) above 17%, in keeping with the letter.

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