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The Vermont Slauson Economic Development (VSEDC) has been designated as one of 17 new Small Business Administration (SBA) Women's Business Centers. This new center, powered by Wells Fargo, will launch on May 22, 2024, featuring remarks by Los Angeles Mayor Karen Bass.
The center aims to provide coaching, mentorship, access to capital, and business education to women entrepreneurs. It is the first SBA Women's Business Center in South Los Angeles and one of 20 in California, focusing on helping women scale their enterprises through strategic planning, financial management, and more.
Black women, the fastest-growing group of entrepreneurs, will significantly benefit from this initiative. The VSEDC WBC will offer resources to help women overcome historic challenges in entrepreneurship, particularly those related to access to capital and comprehensive business support.
Wells Fargo & Company (NYSE: WFC) announced quarterly cash dividends on six series of preferred stock.
The dividends include $18.75 per share for the 7.50% noncumulative perpetual convertible class A preferred stock, Series L; $351.56 per share for the 5.625% noncumulative perpetual class A preferred stock, Series Y; $296.88 per share for the 4.75% noncumulative perpetual class A preferred stock, Series Z; $293.75 per share for the 4.70% noncumulative perpetual class A preferred stock, Series AA; $273.44 per share for the 4.375% noncumulative perpetual class A preferred stock, Series CC; and $265.63 per share for the 4.25% noncumulative perpetual class A preferred stock, Series DD.
These dividends are all payable on June 17, 2024, to holders of record as of May 31, 2024.
Wells Fargo is a leading financial services company with approximately $1.9 trillion in assets, ranked No. 47 on Fortune's 2023 rankings of America's largest corporations.
Wells Fargo & Company (NYSE: WFC) announced the full redemption of its Series S Preferred Stock and related depositary shares. On June 15, 2024, all outstanding shares of the Series S Preferred Stock and related depositary shares will be redeemed. The redemption price is set at $25,000.00 per Redeemed Series S Preferred Share and $1,000.00 per Redeemed Series S Depositary Share. After the redemption, no shares of either will remain outstanding.
Wells Fargo & Company announced that Fernando Rivas will join as Co-CEO of Corporate & Investment Banking, bringing decades of experience from JP Morgan Chase. This move aims to enhance the bank's capabilities, deepen relationships, and drive revenue growth. Rivas' strategic expertise and industry knowledge are expected to contribute to Wells Fargo's continued success in the financial services sector.
Wells Fargo's Growing Diverse Housing Developers program aims to increase equity by providing diverse real estate developers with training, networks, grant capital, and resources to expand affordable housing production. This initiative supports developers of color, both nonprofit and for-profit, in creating greater access to affordable housing nationwide. The program is funded by the Wells Fargo Foundation and implemented through a $30 million grant.
Wells Fargo & Company (NYSE: WFC) has announced a quarterly common stock dividend of $0.35 per share, payable in June 2024, to stockholders of record in May 2024. The company, with approximately $1.9 trillion in assets, offers a wide range of financial services through various segments. Wells Fargo ranks No. 47 on Fortune's list of America's largest corporations, focusing on social impact initiatives.
Wells Fargo announced the results of its 2024 Annual Meeting of Shareholders, electing 13 director nominees, including a new independent director, Fabian T. Garcia. The shareholders also approved various proposals related to executive compensation and voting standards.
