Wells Fargo & Company (NYSE:WFC) Announces Quarterly Dividend of $0.50

Wells Fargo & Company (NYSE:WFC) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Friday, November 6th will be paid a dividend of $0.50 per share by the financial services provider on Tuesday, December 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, November 6th.

Wells Fargo & Company has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Wells Fargo & Company has a dividend payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wells Fargo & Company to earn $8.03 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 24.9%.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $82.72 on Wednesday. The firm’s 50-day simple moving average is $84.43 and its 200-day simple moving average is $83.87. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The firm has a market cap of $250.14 billion, a P/E ratio of 11.67 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The company had revenue of $21.87 billion during the quarter, compared to analysts’ expectations of $22.30 billion. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 7.27 earnings per share for the current fiscal year.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.