WFC plans an 11% dividend increase for Q3, pending board approval, lifting payouts to $0.50 from $0.45.
Wells Fargo will increase its third-quarter common stock dividend by 11% to $0.50 per share, up from $0.45. The move reflects the bank’s confidence in its capital position and earnings outlook.
The previous dividend stood at $0.45 per share, with the last adjustment occurring in mid-2023. Analysts had anticipated a modest increase, though the 11% hike exceeds some expectations.
The dividend hike is subject to formal approval by the company’s board of directors. No immediate market reaction was disclosed.