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Wells Fargo Lifts Dividend After Federal Reserve Stress Test

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Wells Fargo & Co. (WFC: Quote) 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.

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by RTT Staff Writer

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