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Wells Fargo & Company Increases Common Stock Dividend
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Wells Fargo & Company (NYSE: WFC) declared a quarterly dividend of $0.25 per share, up $0.05 from the previous quarter. The dividend will be distributed on March 1, 2022, to stockholders of record as of February 4, 2022. CEO Charlie Scharf emphasized that increasing shareholder returns is a priority, reflecting improved financial performance and future growth prospects. Wells Fargo continues to focus on enhancing earnings capacity to support further dividend increases.
Positive
Quarterly dividend increased to $0.25 per share.
Reflects improved financial performance and management focus on returning capital to shareholders.
Negative
None.
SAN FRANCISCO--(BUSINESS WIRE)--
Wells Fargo & Company (NYSE: WFC) today announced a quarterly common stock dividend of $0.25 per share, payable March 1, 2022, to stockholders of record on Feb. 4, 2022, as approved today by the Wells Fargo board of directors. The first quarter dividend represents an increase of $0.05 per share from the prior quarter.
Wells Fargo Bank branch located in the Wells Fargo Center (Photo: Wells Fargo)
“As I’ve said before, returning capital to shareholders is a priority and today’s dividend increase reflects that,” said Charlie Scharf, Wells Fargo’s CEO. “We’ve made significant changes across the company which have improved our financial performance and I’m pleased that we are now in a position to increase the dividend. We have more work to do and we continue to be focused on further increasing our dividend as we grow the earnings capacity of the company.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
