Wells Fargo Raises Dividend 16.7%

Last week we learned that Wells Fargo ($WFC) passed the Fed’s stress test with flying colors. Now we learn that the Fed had zero objections to their capital plan.

As a result, Wells Fargo will be raising their dividend by 16.7%. The quarterly dividend will rise from 30 to 35 cents per share. The press release adds:

The plan also includes a proposed increase in common stock repurchase activity for 2014 compared with 2013. The Wells Fargo Board of Directors has approved an increase of 350 million additional shares in the Company’s authority to repurchase its common stock.

Posted by on March 26th, 2014 at 5:39 pm

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