Published January 22, 2013
Wells Fargo & Co on Tuesday increased its quarterly stock dividend by 3 cents, or 14 percent, to 25 cents per share.
The No. 4 U.S. bank by assets said in a statement that the increase was part of a capital plan that received approval from the U.S. Federal Reserve in 2012. The dividend is payable March 1 to stockholders of record on February 1.
Wells Fargo in March raised its quarterly dividend by 10 cents to 22 cents per share after the Fed completed stress tests on large U.S. banks. The San Francisco-based bank said it asked the Fed permission to return more capital to shareholders as part of its 2013 capital plan, which is currently being reviewed by the Fed.
(Reporting By Rick Rothacker in Charlotte, North Carolina)