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Wells Fargo Raising Quarterly Dividend

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The exterior of an Oakland Wells Fargo Bank branch. (Justin Sullivan/Getty Images)

The exterior of an Oakland Wells Fargo Bank branch. (Justin Sullivan/Getty Images)

SAN FRANCISCO (CBS SF) – Wells Fargo is raising its quarterly dividend to 30 cents, from 25 cents.

The nation’s biggest U.S. mortgage lender, based in San Francisco, said Tuesday that its next dividend is payable June 1 to shareholders of record on May 10.

The Federal Reserve said in March that Wells Fargo & Co. had passed its annual checkup, a “stress test” to measure how a bank would fare in a severe recession. The Fed cleared the bank to raise its quarterly dividend to 30 cents per share.

 

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