{
  "docId": "019de074-3932-7001-8183-6f15f2dab2c7",
  "docSlug": "30993abc3550a7f26a983e7e0beed025",
  "documentTitle": "Morgan Stanley | Investor Presentation Deck | 27 slides",
  "authorId": "morgan-stanley",
  "authorName": "Morgan Stanley",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-01-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 18,
  "pageCount": 27,
  "prevPage": 17,
  "nextPage": 19,
  "slideType": "kpi_overview",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 9,
  "notes": "The slide uses a simple additive framework to explain the ~9% return (3% dividend + 6% buyback).",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de074-3932-7001-8183-6f15f2dab2c7/18",
  "deckHref": "/decks/019de074-3932-7001-8183-6f15f2dab2c7",
  "deckJsonHref": "/decks/019de074-3932-7001-8183-6f15f2dab2c7.json",
  "deckAnchorHref": "/decks/019de074-3932-7001-8183-6f15f2dab2c7#slide-18",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.22
      },
      "kind": "callout",
      "text": "Increasing Dividends Aligned with Durable Earnings While Reducing Shares",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0e3506b8-ec8e-45d6-9f6f-c995a83bd4b5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.3,
        "x": 0.35,
        "y": 0.3
      },
      "kind": "chart",
      "text": "Shares Outstanding (Bn)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6f99bfcc-47b1-443f-811c-4d23c99128e3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.3,
        "x": 0.05,
        "y": 0.3
      },
      "kind": "chart",
      "text": "4Q Dividend Per Share ($)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9f2e7429-9e56-4878-948e-36476e5c13c8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.6,
        "x": 0.05,
        "y": 0.75
      },
      "kind": "list",
      "text": "~3% Dividend Yield + ~6% Share Buyback",
      "attrs": null,
      "subkind": "comparison",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "043c498d-af45-4519-8b3f-408322ac895b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.25,
        "x": 0.7,
        "y": 0.4
      },
      "kind": "metric",
      "text": "~9% Return in 2022",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "771a04c4-092b-48e5-b3d3-c8a50473927d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.9,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "The End Notes are an integral part of this Presentation. See Slides 21-26 at the back of this presentation for information related to the financial metrics and defined terms in this presentation",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "41d58c11-a2bd-4ce8-9368-cc0697a746a5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.1
      },
      "kind": "title",
      "text": "While Maintaining a Capital Buffer of ~200bps, Generated a ~9% Return from Dividends and Buyback",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ebbb9f7f-c18a-4510-a178-736cb6c31c45",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "capital-allocation-framework",
      "slug": null,
      "matchId": "726ddca9-15e0-4a46-9499-38243e22db46",
      "evidence": "The slide explicitly breaks down capital return into dividends and buybacks.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 20,
      "from": 12,
      "beatId": "7c09739f-91f4-4e5d-9a06-12d55a83a9cb",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Business Model",
      "beatSlug": "sequoia-pitch-business-model",
      "evidence": "Slides 12-20 present the firm's business model and financial performance",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}