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Morgan Stanley plans to raise dividend when Fed allows -letter

NEW YORK, April 1 (Reuters) - Morgan Stanley plans to increase the dividend it pays shareholders when restrictions are lifted by the Federal Reserve, according to a letter Chief Executive James Gorman sent to shareholders on Thursday.

The bank also set a long-term goal of achieving a return on tangible common equity (ROTCE) above 17%, according to the letter. (Reporting By Elizabeth Dilts Marshall Editing by Chris Reese)

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