Morgan Stanley To Resume Stock Repurchase Plan; To Buy Back Up To $10 Bln Of Stock In 2021

(RTTNews) - The Board of Governors of the Federal Reserve System notified Morgan Stanley (MS) that it would be permitted to resume repurchases of common stock in the first quarter of 2021.

The company's board authorized the repurchases of outstanding common stock of up to $10 billion in 2021 in recognition of its significant capital buffer.

James Gorman, Chairman and Chief Executive Officer of Morgan Stanley, said, "The results announced today allow us to restart our share repurchase program in January, and we expect to continue the program throughout the coming year. With over 400bps of excess capital, we are in a position to continue to invest in our businesses while returning capital to shareholders and absorbing market volatility."