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Wells Fargo Gets the Go-Ahead to Raise Its Dividend

Robert Karr
Wells Fargo Gets the Go-Ahead to Raise Its Dividend

Almost all major banks (XLF) cleared this year’s stress tests, paving the way for higher shareholder payouts in future quarters. Wells Fargo (WFC) has received approval from the Fed to expand its dividend by 10.3% to $0.43 per share in the third quarter. The bank’s stringent quality guidelines supported its capital adequacy, helping it clear stress tests.