logo
Share SHARE
FONT-SIZE Plus   Neg

Wells Fargo Lifts Dividend After Federal Reserve Stress Test

Wells Fargo & Co. (WFC) Tuesday boosted its first quarter dividend by $0.10 per share after passing the Federal Reserve's stress test scenario.

Earlier this month, the bank had paid out $0.12 per share in first-quarter dividend, that was declared on January 24. The company will now pay another $0.10 per share on March 30 to stockholders as of March 26. This brings the total quarterly dividend to $0.22 per share.

The company also announced that the Federal Reserve did not object to its Capital Plan submitted in January 2012, or to the dividend rate increase and other capital actions included in the plan.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Women's specialty-clothing retailer J. Jill Inc. said it has launched an initial public offering of 11.67 million shares of its common stock. All shares are being sold by an existing stockholder and J. Jill will not receive any proceeds from the offering. Long queues at peak dining hours at Wendy's may be a history, as the company is planning to introduce automated self ordering kiosks at its more than 1000 retail locations by this year end. The automation will also help in cutting labor costs. Canadian music retail chain Sunrise Records said it plans to take over 70 retail spaces in Canada being vacated by HMV Canada, the industry's largest retailer. The new brick and mortar locations are in malls across Canada. However, Sunrise's expansion comes as people are increasingly shifting to streaming options for music and videos rather than buying tangible, touchable albums.
comments powered by Disqus
Follow RTT