Re-read the press release. Prior dividends were paid on or around the first of the 2nd month following the end of the quarter in which it was declared. The 3 cents recently declared is a 15% increase to 23 cents which apparently will be paid April 1st, where it would be May 1st under the previous process - note our 20 cent dividend payment declared in October 2012 will be paid on or around February 1st. Brief search found that WFC dividend increase is 14%, based on a 3 cent increase to 25 cents. The STI 400% increase is worth noting - that is a 4 cents a quarter increase from 1 cent to 5 cents. Had it been zero before I guess they could claim an infinite increase.
Sentiment: Strong Buy