SAN FRANCISCO--(BUSINESS WIRE)--
Wells Fargo & Company (NYSE: WFC) today announced a quarterly common stock dividend of $0.39 per share, payable Sept. 1, 2017 to stockholders of record on August 4, 2017, as approved today by the Wells Fargo board of directors. The third-quarter dividend represents an increase of $.01 per share, or 3 percent, from the prior quarter. Wells Fargo has approximately 5.0 billion shares outstanding.
The dividend increase is part of the company’s 2017 Capital Plan, which was submitted to the Federal Reserve as part of the recently concluded Comprehensive Capital Analysis and Review (CCAR). In June, the Federal Reserve announced it had no objection to Well Fargo’s 2017 Capital Plan, which covers the four-quarter period from the third quarter of 2017 through the second quarter of 2018. The plan also includes up to $11.5 billion of common stock repurchases for the same four-quarter period. For the previous four quarters ended second quarter 2017, the Company repurchased $8.3 billion of common stock. Quarterly common stock repurchases are subject to management discretion.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 271,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations.
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