By Natalie Weger
Wells Fargo said it would raise its third-quarter dividend by about 12.5%, to 45 cents a share.
The new payout, equal to $1.80 a year, represents an annual yield of 0.02% based on Tuesday's closing price of $81.49.
The financial-services company said Tuesday it also revised its stress capital buffer to the minimum of 2.5% from 3.8%. The Federal Reserve Board will publish the company's final stress capital buffer by Aug. 31.
The Federal Reserve Board also revised Wells Fargo's 2024 stress capital buffer to 3.7% from 3.8% after errors in the board's loss projections.
Wells Fargo joins several banks, including Goldman Sachs, Morgan Stanley, Bank of America and JPMorgan Chase, in raising their dividends after completing their stress tests, a measure that assesses an institution's ability to withstand financial shocks and volatility.
Write to Natalie Weger at natalie.weger@wsj.com
(END) Dow Jones Newswires
July 01, 2025 17:30 ET (21:30 GMT)
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