Wells Fargo Increases Their Dividend by 13.3%
Dividend Increase Announcement
On July 23rd, Wells Fargo announced a dividend increase of 13.3%. This will increase their dividend per quarter from $0.45 to $0.51. It is payable on September 1st for shareholders of record on August 9th. The new quarterly dividend represents an annualized dividend amount of $2.04 per share as compared to the current annualized dividend amount of $1.80 per share.
Wells Fargo Dividend Information
Annual Dividend: $2.04
Dividend Yield: 4.21%
Dividend Growth History: 7 years
Payout Ratio: 44.8%
Dividend Increase Affect On More Dividends
I am currently holding 10.947 shares of Wells Fargo. With this 13.3% increase it will add an additional $2.63 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Wells Fargo has seen their share of difficulties over the past few years. The scandals have scared off a lot of investors during these times of turmoil. Despite all of that, the company is still posting strong earnings and has a pretty solid balance sheet. I have been holding my shares of several years now and would love to add to the position if the opporunity arises. Until then I will continue to hold and to compound the dividend.
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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