Dividend Increase Announcement
On July 26th, Wells Fargo announced a dividend increase of 20%. This will increase their dividend per month from $0.25 to $0.30. The new monthly dividend represents an annualized dividend amount of $1.20 per share as compared to the current annualized dividend amount of $1.00 per share.
Wells Fargo Dividend Information
Annual Dividend: $1.20
Dividend Growth History: 2 years
Dividend Yield: 2.77%
Dividend Increase Effect
I am currently holding 44.885 shares of Wells Fargo stock in the More Dividends portfolio. With this 20% increase it will add an additional $8.97 to my projected annual dividend income and this doesn’t even take into account the compounding factor! That brings my projected annual dividend income to a grand total of $1,930.42
Current Stock Position
Wells Fargo was one of my earliest bank stocks. I have continued to hold the position, even during all of the scandals a few years ago.
The benefits of holding stock in a good company are now starting to pay of because this is the second time this year that the company has increased it’s dividend.
Back in January the company increased it’s dividend by 25%. You can read my article about it called “Wells Fargo Increases Their Dividend by 25% in 2022 !!!.
I have no intentions of selling this position anytime soon. I will continue to collect the dividends and reinvest them back into the company.
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
Realty Income Increases Their Dividend by 0.2% in 2022 AGAIN!!!
Bank of America Increases Their Dividend by 5% in 2022
General Mills Increases Their Dividend by 6% in 2022
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