Wells Fargo increases quarterly dividend to $0.40

Wells Fargo & Company (NYSE: WFC) said on Tuesday that its Board of Directors had authorized a regular quarterly cash dividend of $0.40 per share of common stock.

The latter represents an increase of 14.28% compared to the previous quarterly dividend of $0.35 per share.

The dividend will be paid on September 1st to shareholders of record as of the close of business on August 9th 2024, the financial group said.

Stock Performance

The shares of Wells Fargo & Company (WFC) closed 0.90% ($0.53) higher at $59.67 in New York on Tuesday, as they snapped a three-day streak of losses.

The Wall Street bank’s total market cap now stands at $203.04 billion.

The shares of Wells Fargo & Company (WFC) went up 19.20% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).

The financial group’s shares have risen 21.23% so far this year.