Wells Fargo & Company Increases Common Stock Dividend
SAN FRANCISCO--(BUSINESS WIRE)--Jul 24, 2018--Wells Fargo & Company (NYSE: WFC) today announced a quarterly common stock dividend of $0.43 per share, payable September 1, 2018 to stockholders of record on August 10, 2018, as approved today by the Wells Fargo board of directors. The third-quarter dividend represents an increase of $0.04 per share, or 10 percent, from the prior quarter. Wells Fargo has approximately 4.8 billion shares outstanding.
The dividend increase is part of the company’s 2018 Capital Plan, which was submitted to the Federal Reserve as part of the recently concluded Comprehensive Capital Analysis and Review (CCAR). In June, the Fed announced it had no objection to Wells Fargo’s 2018 Capital Plan, which covers the four-quarter period from third quarter of 2018 through second quarter of 2019. The plan also includes up to $24.5 billion of common stock repurchases for the same four-quarter period. For the previous four quarters ended second quarter 2018, the Company repurchased $11.4 billion of common stock. Quarterly common stock repurchases are subject to management discretion.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investments, mortgage, and consumer and commercial finance through 8,050 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 38 countries and territories to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations.
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Wells Fargo & Company
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PUB: 07/24/2018 02:26 PM/DISC: 07/24/2018 02:26 PM