More than a dozen banks unveil stock buyback and dividend increases after getting Fed approval

Economic Indicators Associated Press

The Federal Reserve on Wednesday approved the spending plans for 28 U.S. banks, saying that after "stress tests" they have large enough capital buffers to keep lending through another financial crisis and severe economic downturn. Many of the banks responded by revealing their plans. Here's what they say they will do:

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American Express Co. will buy back up to $6.6 billion in stock and raise its dividend to 29 cents from 26 cents.

BB&T Corp. will buy back up to $820 million in stock and raise its dividend to 27 cents from 24 cents.

BBVA Compass Bancshares Inc. will raise its common dividend to $115 million from $102 million.

Capital One Financial Corp. plans to buy back $3.13 billion in stock and raise its dividend from 40 cents from 30 cents.

Citi will buy back up to $7.8 billion in stock and raise its quarterly dividend to 5 cents from 1 cent.

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Comerica Inc. will buy back up to $393 million in stock and raise its dividend to 21 cents from 20 cents.

Discover Financial Services will buy back $2.2 billion in stock and raise its dividend to 28 cents from 24 cents.

Goldman Sachs will raise its dividend to 65 cents from 60 cents. It said the Fed approved a stock repurchase but didn't disclose the size.

Huntington Bancshares will buy back up to $366 million in stock and raise its dividend to 7 cents from 6 cents.

JPMorgan Chase & Co. will buy back up to $6.4 billion in stock and raise its dividend to 44 cents from 40 cents.

Morgan Stanley says it will buy back $3.1 billion in stock and raised its dividend to 15 cents from 10 cents.

Northern Trust Corp. will buy back $675 million in stock and raise its dividend to 36 cents from 33 cents.

PNC Financial Services Group will buy back up to $2.88 billion in stock and raise its quarterly dividend to 51 cents from 48 cents.

State Street Corp. will buy back up to $1.8 billion in stock and raise its dividend to 34 cents from 30 cents.

SunTrust Banks Inc. will buy back $875 million in stock and raise its dividend to 24 cents from 20 cents.

U.S. Bancorp will repurchase $3.02 billion in stock and raise its dividend to 25.5 cents from 24.5 cents.

Zions Bancorp will raise its dividend to 6 cents from 4 cents, continue paying preferred dividends at current rates, and reduce its preferred equity by $300 million, to $700 million total.

The Fed rejected plans from Bank of America, the U.S. division of Germany's Deutsche Bank AG, and the U.S. unit of Banco Santander SA of Spain.