Today it was announced based on the results from the stress test that the banks have gone through that Wells Fargo will be increasing their dividend from $0.38 to $0.39. While this is a small increase every little bit counts. Wells Fargo is a great company that will continue to return capital to its shareholders.
When I originally opened my position in Wells Fargo I believe that I may have paid a bit of a premium for the stock. The stock continued to go up a bit but was then cut back down to my cost basis during their recent scandal. I would love to see the price drop below my cost basis so that I can add more shares to my portfolio. Only time will tell when I am able to do this.
I currently am only holding 10.287 shares of Wells Fargo so this increase will only add $0.10287 to my dividend payments and this will add $0.41148 to my projected annual dividend income. As I have said every little bit counts so I cannot wait until I receive my first increased payment.
I look forward to reading everyones thoughts and comments.
Be sure to follow my new Page on Facebook at Facebook.com/MoreDividendsdotcom
Be sure to follow me on Twitter @MoreDividends
As always I hope that everyone is doing good out there and happy investing.