WFC announced today a proposal to increase the second quarter dividend by 16.7% from $0.30 to $0.35 per share. The dividend is subject to approval by the board in April.
This would mark their fourth consecutive yearly increase since they dropped the dividend in 2009. This is also 0.01 more than the previous high of 0.34 before the drop.
Shares of WFC are up 28% from my cost basis since initiating a position back last February.
I own 126.47 shares so this will increase my yearly dividends by $25.29. This is the 13th stock in my portfolio to increase their dividend already this year.
Pay raises are music to my ears :)
ReplyDeleteWould love to pick up more shares in WFC if theres a pullback
R2R,
DeleteI'm in agreement. I love received raises, especially in the double-digits! I'd also like to add to my position on any pullback.
Thanks for stopping by!
Brent,
ReplyDeleteThis is very, very nice. I was expecting another big raise, and they didn't disappoint. :)
2014 has been very kind to us dividend growth investors so far.
Best wishes!
Hey Jason,
DeleteI also expected a double-digit raise, they are now above pre-recession levels which is great even though their profits are quite a bit higher I believe. I think we'll see nice increases from WFC for years to come.
I'm with you, I've already received raises on 13 of my stocks. Many have been in the double-digits. These raises are much higher than inflation and the reason I turned into a DG investor.
Take care!
Wow, good news indeed! That will be a nice one for you!
ReplyDeleteHi CI,
DeleteThe news was announced sooner than I expected. Although not complete approved yet, I don't see any reason why the board would change their mind.
Yes, I look forward to any raises, especially raises in the double-digits!
Thanks for stopping by!
Between this increase and BAX splitting into two companies...today has been a good day
ReplyDeleteHi Rob,
DeleteI'm kicking myself for not adding BAX recently. Oh well, you can't own them all. I agree, there have been some great announcements lately from many popular DG stocks.
Cheers!
So much good news yesterday. WFC and JPM dividend increases. BAC finally increasing from the token $0.01 / quarter. And the BAX split.
ReplyDeletePIP,
DeleteThat's a lot of great news. I only own WFC of those mentioned but was really close to grabbing some BAX recently. If I hadn't decided on buying another rental I would have added BAX and UL both. Yeah the BAC news was also good, it seems they wanted to raise it even more but weren't allowed to. At least they are trying hard to return money to shareholders.
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