10.3% Dividend Increase from Wells Fargo ( WFC )

Dividend Increase Announcement

On July 24th, Wells Fargo announced a dividend increase of 10.3%. This will increase their dividend per quarter from $0.39 to $0.43. It is payable on September 1st for shareholders of record on August 10th. The new quarterly dividend represents an annualized dividend amount of $1.72 per share as compared to the current annualized dividend amount of $1.56 per share.

Target Dividend Information

Annual Dividend: $1.72
Dividend Yield: 2.69%
Payout Ratio: 37.7%
Dividend Growth History: 6 years

Dividend Increase Effect On More Dividends

I am currently holding 10.582 shares of Wells Fargo. With this 10.3% increase it will add $1.69 to my Projected Annual Dividend Income.

Conclusion

Today, Wells Fargo announced this dividend increase. I have been holding stock in the company for a couple of years now. So far I have rode the wave up, then when all the scandals was happening I rode it back down. Luckily for me I have continued to hold the stock as it has restarted it’s upward trend. Like a lot of financial companies that passed the stress test they have decided to raise their dividend. I will continue to hold the stock for many more increases to come!

Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉

Do you currently hold any stock in Wells Fargo? What do you think of this dividend increase? Just let me know in the comments.

As always I look forward to reading all of your comments and questions, until then….. happy investing!

-Jason from MoreDividends.com

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