Wells Fargo & Company Announces Common Stock Dividend and New $40 Billion Common Stock Repurchase Program
Wells Fargo & Company (NYSE:WFC) today announced its board of directors approved a quarterly common stock dividend of $0.40 per share, payable June 1, 2025, to stockholders of record on May 9, 2025.
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Facade of a Wells Fargo bank branch in Manhattan (Photo: Wells Fargo)
The Wells Fargo board of directors also authorized a new common stock repurchase program of up to $40 billion to take effect upon the completion of the current repurchase program. The program will be executed consistent with the company's internal capital adequacy framework that considers current market conditions, regulatory capital requirements, and other risk factors.
"Our balance sheet and capital levels remain strong and we have returned a significant amount of capital to shareholders over the past five years, including reducing our average common shares outstanding by 22% since 2019," said CEO Charlie Scharf. "At the same time, we have been investing to drive more organic growth and improve the earnings capacity in each of our businesses which allows us to maintain a competitive, sustainable dividend and return excess capital to our shareholders through repurchases."
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune's 2024 rankings of America's largest corporations.
Cautionary Statement About Forward-Looking Statements
This news release contains forward-looking statements about our future financial performance and business. Because forward-looking statements are based on our current expectations and assumptions regarding the future, they are subject to inherent risks and uncertainties. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov.
News Release Category: WF-CFH
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