Almost all the largest U.S. banks mentioned Monday that they carried out nicely sufficient on the Federal Reserve’s most-recent stress check to keep up their present quarterly dividend.Goldman Sachs, Bank of America, Morgan Stanley, JPMorgan Chase and Citigroup all mentioned they’ll preserve their present dividend. Wells Fargo mentioned the Fed’s evaluation of its enterprise will warrant a discount to its quarterly payout. Whereas the nation’s largest banks had been fast to drop stock buybacks on the onset of the coronavirus pandemic, the group is usually detest to chop its dividend funds, that are considered as a gradual supply of revenue for buyers.The business was pressured to slash dividends after the 2008 monetary disaster and has solely slowly constructed them up for the reason that Fed first allowed banks to boost dividends in 2011. Given the unprecedented stress Covid-19 has placed on the American financial system, the Fed final week introduced new restrictions on the U.S. banking business.Here is what Goldman Sachs, Bank of America, Wells Fargo, Citigroup, JPMorgan and Morgan Stanley mentioned:Goldman SachsPer-share dividend for quarter ended March 31: $1.25New dividend: $1.25Notable commentary:”Our sturdy earnings profile, continued efficiency, and extremely liquid stability sheet permit us to serve our shoppers, preserve our dividend, and ship for all our stakeholders,” mentioned Chairman and CEO David Solomon. “We’ve a monitor file of rebuilding capital when vital, and have introduced our standardized CET1 ratio above 13% as this quarter involves a detailed. We absolutely intend to proceed this dynamic capital administration whereas serving to our shoppers proceed to navigate difficult markets.”CitigroupPer-share dividend for quarter ended March 31: 51 centsNew dividend: 51 centsNotable commentary:”Whereas we’ll proceed to judge our deliberate capital actions relative to the latest monetary and macroeconomic situations, we imagine we’re nicely positioned to proceed to help our prospects and the broader financial system, whereas additionally persevering with with our deliberate capital actions,” mentioned CEO Michael Corbat. “The deliberate capital actions embrace frequent dividends of $0.51 per share within the third quarter and over the 4 quarters coated by the 2020 CCAR cycle (i.e., 4Q 2020 – 3Q 2021), topic to the newest monetary and macroeconomic situations.”Morgan StanleyPer-share dividend for quarter ended March 31: 35 centsNew dividend: 35 centsNotable commentary:The outcomes “affirm our sturdy capital place and mirror the steadiness of our enterprise model. … We anticipate persevering with to pay our quarterly frequent stock dividend of $0.35 per share,” mentioned CEO James Gorman. “We voluntarily suspended our share repurchases in March and have continued to accrete capital. The up to date capital guidelines present us flexibility to deploy our extra capital, and we’ll reevaluate our capital actions when we’ve got extra confidence within the form and path of the financial restoration.”Wells FargoPer-share dividend for quarter ended March 31: 51 centsNew dividend: Decreased. Actual payout to be decided.Notable commentary:”We count on our second quarter outcomes will embrace a rise within the allowance for credit score losses considerably larger than the rise within the first quarter,” mentioned CEO Charlie Scharf. “Wells Fargo continues to have one of many strongest capital positions relative to regulatory minimums among the many world’s monetary companies companies as demonstrated by our stress check outcomes. These are actually extraordinarily difficult occasions for a lot of and we stay dedicated to supporting our prospects and communities, and we’ll proceed to take acceptable measures to keep up sturdy capital and liquidity ranges and to enhance the earnings capability of the corporate.”Bank of AmericaPer-share dividend for quarter ended March 31: 18 centsNew dividend: 18 centsNotable commentary:”Bank of America is dedicated to returning capital to shareholders over time, in extra of what’s wanted throughout financial cycles to develop the corporate and help shoppers, communities and the worldwide financial system. The corporate intends to keep up the quarterly frequent stock dividend on the present charge of $0.18 till additional discover, topic to approval by Bank of America’s Board of Administrators.”JPMorgan ChasePer-share dividend for quarter ended March 31: 90 centsNew dividend: 90 centsNotable commentary:”Presently, utilizing each JPMorgan Chase’s and the Federal Reserve’s base case financial outlook, the Agency can proceed to pay its dividend in future quarters whereas sustaining wholesome capital and liquidity positons. If there’s a important deterioration sooner or later outlook, the Agency will, after all, take into account decreasing dividends,” mentioned CEO Jamie Dimon. “The Agency had already discontinued its stock repurchase program and has not meant to renew this system till the precise financial outcomes enhance considerably.”In an effort to ensure the continued survival of the banks and guarantee ample capital within the system, the Fed mentioned it’s capping dividend funds within the third quarter. The regulator mentioned third-quarter bank dividends shall be capped on the quantity paid within the second quarter and that it may select to cut back the payouts additional primarily based on every agency’s latest earnings.Fed officers, citing an abundance of warning, additionally barred the banks from shopping for again shares within the third quarter and mentioned it would require banks to undergo ongoing quarterly evaluations in the course of the disaster. Many of the nation’s largest banks already agreed to halt share repurchases in the course of the second quarter to shore up their capital positions.Subscribe to CNBC PRO for unique insights and evaluation, and dwell enterprise day programming from all over the world.