Corporate buybacks in the US gain steam

Higher dividends: People walking past the Morgan Stanley headquarters in New York. Morgan Stanley is among the nation’s biggest lenders that signalled they’re stepping up repurchases and raising dividends after passing Fed stress tests. — Bloomberg

NEW YORK: High stock price valuations may be giving some investors pause, but it hasn’t stopped US corporations from plowing even more cash into their shares.

Morgan Stanley and Wells Fargo Inc are among the nation’s biggest lenders that signalled they’re stepping up repurchases and raising dividends after passing Federal Reserve stress tests with flying colours.