Dividend Increase Announcement
On January 25th, Wells Fargo announced a dividend increase of 25%. This will increase their dividend per quarter from $0.20 to $0.25. It is payable on March 1st for shareholders of record on February 4th. The new quarterly dividend represents an annualized dividend amount of $1.00 per share as compared to the current annualized dividend amount of $0.80 per share.
Wells Fargo Dividend Information
Annual Dividend: $1.00
Dividend Growth History: 1 year
Payout Ratio: 16.76%
Dividend Increase Effect
I am currently holding 44.424 shares of Wells Fargo stock in the More Dividends portfolio. With this 25% increase it will add an additional $8.88 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Current Stock Position
Wowza. I was not expecting such a large increase from Wells Fargo but it is most definitely welcomed.
I began this position in Wells Fargo several years ago. I have had several opportunities since then to add to the position. The first was during their scandal and the other was when the Fed put restrictions on the company.
I knew that neither of these things were long term. Yes, they may not be great for a company but they did create a buying opportunity for the patient investor
Honestly, I would love to add even more to this position but currently it doesn’t look like the share price will be near my cost basis anytime soon. So until then I will just continue 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
Recent Dividend Increases in Portfolio
Pfizer Increases Their Dividend by 2.6% in 2021
Viatris Increases Their Dividend by 9% in 2022
Archer Daniels Midland Increases Their Dividend by 8.1% in 2022 !!!
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