Wells Fargo & Co. (WFC) said that it expects to increase its third quarter 2021 common stock dividend to $0.20 per share from $0.10 per share. It plans to repurchase about $18 billion of common shares beginning third quarter 2021 through second quarter 2022.
Wells Fargo said that it has completed the 2021 Comprehensive Capital Analysis and Review (CCAR) stress test process. The company expects its stress capital buffer (SCB) to be 3.1%, which represents a percentage amount of incremental capital the company must hold above its minimum regulatory capital requirements.
The Federal Reserve Board has indicated that it will publish the company's final SCB by August 31, 2021.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.