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Wells Fargo Declares Fresh Dividend

Wednesday - 7/24/2013, 2:28pm  ET

The dividend wagon continues to roll on for Wells Fargo . The powerful bank has declared a quarterly distribution of $0.30 per share, to be paid on September 1 to shareholders of record as of August 9. That amount matches the firm's previous distribution, which was paid at the beginning of last month. Prior to that, Wells Fargo was less magnanimous by a nickel, handing out $0.25 per share.

At the moment, the bank has roughly 5.3 billion shares outstanding, thus its total payout for the distribution will be around $1.6 billion.

The just-declared dividend annualizes to $1.20 per share. That yields 2.7% at Wells Fargo's most recent closing stock price of $44.57.

This article was originally published as Wells Fargo Declares Fresh Dividendon Fool.com

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