Wells Fargo & Company (NYSE:WFC) Stock to Pay Quarterly Dividend of $0.50

Wells Fargo & Company (NYSE:WFC) declared a quarterly dividend on Tuesday, October 27th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.50 per share by the financial services provider on Tuesday, December 1st. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 6th.

Wells Fargo & Company has increased its dividend by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 4 years. Wells Fargo & Company has a payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Wells Fargo & Company to earn $8.03 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 24.9%.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $82.72 on Wednesday. The stock has a market capitalization of $250.14 billion, a price-to-earnings ratio of 11.67 and a beta of 0.96. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The stock’s 50 day moving average price is $84.43 and its two-hundred day moving average price is $83.87.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The company had revenue of $21.87 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same period last year, the business earned $1.66 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Company will post 7.27 EPS for the current year.

About Wells Fargo & Company

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.