Wells Fargo & Company (NYSE:WFC) Increases Dividend to $0.50 Per Share

Wells Fargo & Company (NYSE:WFC) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Friday, August 7th will be given a dividend of 0.50 per share by the financial services provider on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, August 7th. This is a 11.1% increase from Wells Fargo & Company’s previous quarterly dividend of $0.45.

Wells Fargo & Company has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. Wells Fargo & Company has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wells Fargo & Company to earn $7.92 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 22.7%.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $86.86 on Wednesday. The business’s fifty day moving average is $83.22 and its 200 day moving average is $83.30. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. The stock has a market cap of $265.82 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.95 and a beta of 0.92. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.