Wells Fargo & Co (WFC) will raise its quarterly dividend by 4.7 percent to $0.45 per share in 2019. This marks the 9th consecutive year of annual dividend increases by the financial services company.
The increased dividend will be payable March 1, 2019 to stockholders of record on February 1, 2019. A new annualized dividend rate of $1.80 per share yields 3.6% at a stock price of $50.
WFC states that the dividend increase is part of the company’s 2018 Capital Plan, which received a non-objection from the Federal Reserve in June 2018. Wells Fargo has approximately 4.6 billion shares outstanding.
Wells Fargo & Company is a financial services company. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investments, mortgage, and consumer and commercial finance through thousands of office locations, ATMs, the internet (wellsfargo.com) and mobile banking.
2022