Wells Fargo CEO Charlie Scharf speaks at the Milken Institute Global Conference on May 2, 2023 in Beverly Hills, California. Presentation at the Milken Institute Global Conference on May 2, 2023 in Beverly Hills, CA.
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FuGuo bank The company said Friday it plans to raise its quarterly dividend to 35 cents a share after passing the Fed’s annual stress test.
The move, which will raise its dividend from 30 cents a share, is subject to board approval next month, San Francisco-based Wells Fargo said in a statement.
“This year’s CCAR stress test confirms that Wells Fargo remains in a strong capital position, reflecting the value of our franchise and the strength of our operating model,” said Chief Executive Officer Charlie Scharf. “This capital The strength allows us to meet the financial needs of our clients while continuing to prudently return excess capital to shareholders.”
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