Tuesday, January 22, 2013

Wells Fargo boosts dividend 14 percent

Wells Fargo's board approved a 14 percent increase to the bank's dividend Tuesday, or 3 cents per share. The increase, to 25 cents per share, was approved by the Federal Reserve as part of last year's capital plan.

The San Francisco bank sent in its capital plan for 2013 on Jan. 4, and it is still being reviewed. CEO John Stumpf said on an earnings call earlier this month, and again in a statement today, that the bank has asked for increased capital distributions this year.

Earlier Tuesday, BB&T said it was increasing its dividend by 3 cents as well, representing a 15 percent jump.

3 comments:

Willy Loman said...

Cha-ching.

Anonymous said...

And it's worth noting that Bank of America still pays $0.01 per share, Citigroup $0.01 per share.

Anonymous said...

Andrew the piece should also include the following information:

The dividend is payable March 1, 2013, to stockholders of record on February 1, 2013.

Scheeze, quit phoning it in, pal. The job of a reporter is to report. As in information.