US Fed approves Northern Trust’s capital plan

The United States Federal Reserve has not objected to Northern Trust Corporation’s 2016 Capital Plan. The Capital Plan seeks to increase the company’s quarterly common stock dividend to USD0.38 per share from USD0.36 per share starting in Q3 of this year. Northern Trust, which operates an outsourcing center in the Philippines, said the 2016 Capital Plan demonstrates the strength of the company’s focused business model, financial position and commitment to shareholders. It was in 2014 when Northern Trust opened its Manila office in the Philippines, providing support processing and back-office functions for its global clients.