Wells Fargo & Co Declares Dividend, Increases Buybacks Income Investors 2018-01-24 07:05:52 wells fargo & co wfc wfc stock wells fargo NYSE WFC On Tuesday, January 23, the board of directors of Wells Fargo (NYSE:WFC) declared a quarterly common stock dividend of $0.39 per share. Dividend Stocks,News,Wells Fargo Stock https://www.incomeinvestors.com/wp-content/uploads/2018/01/WFC-Stock-Returning-Cash-to-Investors-150x150.jpg

Wells Fargo & Co Declares Dividend, Increases Buybacks

iStock.com/sshepard

WFC Stock Returning Cash to Investors

When it comes to rewarding shareholders, Wells Fargo & Co (NYSE:WFC) stands out. With both dividends and buybacks, the company has returned tens of billions of dollars to investors. And now, it has another piece of good news.

On Tuesday, January 23, the board of directors of Wells Fargo declared a quarterly common stock dividend of $0.39 per share. The dividend is payable on March 1, 2018 to shareholders of record as of February 2. (Source: “Wells Fargo & Company Announces Common Dividend and Increased Common Stock Repurchase Authority,” Wells Fargo & Co, January 23, 2018.)

While the amount is the same as last quarter’s payout, it represents a 2.6% increase from a year ago. Since 2010, Wells Fargo’s quarterly dividend rate has grown by a whopping 680%. (Source: “Stock Price and Dividends,” Wells Fargo & Co, last accessed January 23, 2018.)

Also Read:

WFC Stock: 3 Reasons to Own Wells Fargo & Co for the Next 50 Years

In the same press release, Wells Fargo also said that the board of directors has increased the company’s authority to repurchase an additional 350 million shares of its common stock.

With share buybacks, investors don’t get a check in the mail directly. However, when a company buys back its stock, it reduces the number of shares outstanding, so each existing shareholder gets to own a slightly larger portion of the company. Right now, Wells Fargo & Co has approximately 4.9 billion shares outstanding.

Trading at around $64.49 apiece, WFC stock has an annual dividend yield of 2.42%.

 

Related Articles


Please wait...

Sign up to receive our FREE Income Investors newsletter along with our special offers and get our FREE report:

5 Dividend Stocks to Own Forever

This is an entirely free service. No credit card required. You can opt-out at anytime.

We hate spam as much as you do.
Check out our privacy policy.