Goldman Sachs plans 11% dividend increase

Goldman Sachs plans 11% dividend increase

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How did Goldman Sachs (GS) perform in the Federal Reserve’s 2026 CCAR?

Is Goldman Sachs (GS) increasing its common stock dividend after the 2026 CCAR?

What are Goldman Sachs’ current capital requirements following the 2026 CCAR?

When will the planned Goldman Sachs (GS) dividend increase be effective?

How large is Goldman Sachs’ planned dividend increase compared with last year?

Does Goldman Sachs caution that its future capital actions may change?

Press Releases

The Goldman Sachs Group, Inc. reported that the Federal Reserve’s 2026 Comprehensive Capital Analysis and Review showed the firm remains well capitalized under a wide range of economic conditions.

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Form Type

8-K

The Goldman Sachs Group, Inc. reported that the Federal Reserve’s 2026 Comprehensive Capital Analysis and Review showed the firm remains well capitalized under a wide range of economic conditions. The firm’s stress capital buffer will remain at 3.4% through September 30, 2027, and its Standardized Common Equity Tier 1 ratio requirement will stay at 11.4%.

Goldman Sachs intends to increase its quarterly common dividend from $4.50 to $5.00 per share beginning July 1, 2026, an 11% increase from current levels and 25% above the prior year. This planned increase, which the Board of Directors will consider at its scheduled third quarter meeting, is presented as part of a strategy to provide a sustainable and growing dividend to shareholders.

Planned dividend increase: Goldman Sachs intends to raise its common dividend from $4.50 to $5.00 per share beginning July 1, 2026, an 11% increase from current levels and 25% above the prior year.

None.

CCAR results support a meaningful planned dividend increase at Goldman Sachs.

Goldman Sachs passed the Federal Reserve’s 2026 stress tests with its stress capital buffer held at 3.4% and a Standardized CET1 requirement of 11.4%. This indicates regulators view the firm’s capital as sufficient under modeled stress scenarios.

The firm plans to raise its common dividend from $4.50 to $5.00 per share starting on July 1, 2026, an 11% increase versus current levels and 25% versus the prior year. The move remains subject to Board approval at the scheduled third quarter meeting.

These disclosures highlight management’s confidence in earnings and capital generation, while the forward-looking statement language reminds investors that actual capital actions, including dividends, may differ from this intention depending on future conditions and risks outlined in the firm’s Form 10-K.

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Stress capital buffer: 3.4% Standardized CET1 ratio requirement: 11.4% Current dividend: $4.50 per share +5 more

8 metrics

Stress capital buffer 3.4% Remains in place through September 30, 2027

Standardized CET1 ratio requirement 11.4% Requirement remains unchanged

Current dividend $4.50 per share Common stock dividend before planned increase

Planned dividend $5.00 per share Intended common dividend beginning July 1, 2026, subject to approval

Dividend increase vs current 11% Increase from $4.50 to $5.00 per share

Dividend increase vs prior year 25% Planned dividend level relative to prior year

SCB period end date September 30, 2027 End of period for 3.4% stress capital buffer

Dividend start date July 1, 2026 Intended effective date for $5.00 dividend

Comprehensive Capital Analysis and Review, stress capital buffer, Standardized Common Equity Tier 1 ratio, forward-looking statements, +2 more

6 terms

Comprehensive Capital Analysis and Review regulatory

"Today the Federal Reserve released the results of its 2026 Comprehensive Capital Analysis and Review"

stress capital buffer regulatory

"the firm’s SCB will remain 3.4% through September 30, 2027"

A stress capital buffer is an extra amount of loss-absorbing capital that regulators require a bank to hold based on how it would perform in a severe economic downturn. Think of it as a rainy-day fund sized by simulated worst-case losses; it matters to investors because a larger buffer can limit dividends and share buybacks but also signals greater resilience and lower risk of sudden losses or government intervention.

Standardized Common Equity Tier 1 ratio financial

"the Standardized Common Equity Tier 1 (“CET1”) ratio requirement will remain 11.4%"

forward-looking statements regulatory

"This press release includes “forward-looking statements” within the meaning of the safe harbor provisions"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Private Securities Litigation Reform Act of 1995 regulatory

"within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995"

Risk Factors regulatory

"see “Risk Factors” in Part I, Item 1A of the firm’s Annual Report on Form 10-K"

Risk factors are elements or conditions that could cause an investment's value to decrease or lead to potential losses. They are like warning signs or obstacles that can affect the success of an investment, making it uncertain or more unpredictable. Recognizing risk factors helps investors understand the possible challenges and make more informed decisions.

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Goldman Sachs states the 2026 CCAR results showed it remains well capitalized under a wide range of economic conditions. Its stress capital buffer stays at 3.4% and its Standardized Common Equity Tier 1 ratio requirement remains 11.4% through September 30, 2027.

Goldman Sachs intends to increase its common dividend from $4.50 to $5.00 per share beginning July 1, 2026. This represents an 11% increase from current levels and a 25% increase versus the prior year, subject to Board approval at its scheduled third quarter meeting.

Goldman Sachs reports its stress capital buffer will remain 3.4% through September 30, 2027. The firm also notes its Standardized Common Equity Tier 1 ratio requirement will stay at 11.4%, consistent with the Federal Reserve’s February 2026 decision not to change current SCB requirements.

The firm intends the higher $5.00 per share common dividend to begin July 1, 2026. However, this increase is still subject to approval by the Board of Directors at its scheduled third quarter meeting, so the timing depends on that formal authorization.

Goldman Sachs indicates the planned move from $4.50 to $5.00 per share reflects an 11% increase from the current dividend. The firm also highlights that the new level would be 25% higher than its dividend relative to the prior year, if approved.

Yes. The statement notes dividends and other capital actions could differ, possibly materially, from what is described. It cites forward-looking statement language and directs readers to the Risk Factors section in its Form 10-K for December 31, 2025, for key risks affecting future results.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/24/2026 - 04:28 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 or 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 24, 2026

The Goldman Sachs Group, Inc.

(Exact name of registrant as specified in its charter)

Commission File Number: 001-14965


Delaware		13-4019460
(State or other jurisdiction of incorporation)		(IRS Employer Identification No.)

200 West Street, New York, N.Y.		10282
(Address of principal executive offices)		(Zip Code)

(212) 902-1000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol	Exchange on which registered
Common stock, par value $.01 per share	GS	NYSE
Depositary Shares, Each Representing 1/1,000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock, Series A	GS PrA	NYSE
Depositary Shares, Each Representing 1/1,000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock, Series C	GS PrC	NYSE
Depositary Shares, Each Representing 1/1,000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock, Series D	GS PrD	NYSE
5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II	GS/43PE	NYSE
Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital III	GS/43PF	NYSE
Medium-Term Notes, Series F, Callable Fixed and Floating Rate Notes due March 2031 of GS Finance Corp.	GS/31B	NYSE
Medium-Term Notes, Series F, Callable Fixed and Floating Rate Notes due May 2031 of GS Finance Corp.	GS/31X	NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01

Other Events.

On June 24, 2026, The Goldman Sachs Group, Inc. (the Registrant) issued a press release, a copy of which is attached hereto as Exhibit 99.1 and incorporated into this Item 8.01 by reference.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits.

The following exhibit is filed as part of this Current Report on Form 8-K:


99.1		Press release of the Registrant, dated June 24, 2026

101		Pursuant to Rule 406 of Regulation S-T, the cover page information is formatted in iXBRL (Inline eXtensible Business Reporting Language)

104		Cover Page Interactive Data File (formatted in iXBRL in Exhibit 101)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit 99.1

GOLDMAN SACHS STATEMENT ON COMPREHENSIVE CAPITAL ANALYSIS AND REVIEW 2026 RESULTS

NEW YORK, NY, June 24, 2026 — Today the Federal Reserve released the results of its 2026 Comprehensive Capital Analysis and Review (“CCAR”), which demonstrated the firm remains well capitalized to withstand a wide range of economic conditions. Consistent with the Federal Reserve’s February 2026 announcement that current stress capital buffer (“SCB”) requirements will remain unchanged, the firm’s SCB will remain 3.4% through September 30, 2027, and the Standardized Common Equity Tier 1 (“CET1”) ratio requirement will remain 11.4%.

The firm intends to increase its common dividend from $4.50 to $5.00 per share beginning July 1, 2026, representing an increase of 11% from current levels and an increase of 25% relative to the prior year. The common stock dividend is subject to approval by the firm’s Board of Directors at its scheduled third quarter meeting. This increase is a continuation of the strategy to pay shareholders a sustainable and growing dividend.

“Today’s announcement reflects the continued strength of our earnings and capital position, and our commitment to delivering sustainable, long-term returns to shareholders,” said Chairman and CEO David Solomon. “Our planned dividend increase reflects the strength of our franchise, our earnings power, and our confidence in our ability to support clients, invest for the long term, and deliver sustainable returns to shareholders.”

About Goldman Sachs

Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

Cautionary Note on Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts, but instead represent only the firm’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside the firm’s control. It is possible that the firm’s capital actions (including dividends) may differ, possibly materially, from those described in this press release. For a discussion of some of the risks and important factors that could affect the firm’s future results and financial condition, as well as its capital actions, see “Risk Factors” in Part I, Item 1A of the firm’s Annual Report on Form 10-K for the year ended December 31, 2025.

Media Contact:

Tony Fratto

Tel: +1 212 902 5400

Investor Contact:

Jehan Ilahi

Tel: +1 212 902 0300

Source: View Original Filing on SEC EDGAR

5 documents

EX-99.1 EX-99.1 4.7 KB

THE GOLDMAN SACHS GROUP, INC.

(Registrant)

Date: June 24, 2026

/s/ Denis P. Coleman III

Denis P. Coleman III

Chief Financial Officer