Wells Fargo To Repurchase Up To $30 Bln Of Stock

(RTTNews) - Wells Fargo & Co. (WFC) said that its board authorized a new common stock repurchase program of up to $30 billion. The program will be executed consistent with the company's internal capital adequacy framework that considers current market conditions, potential changes to regulatory capital requirements, and other risk factors.

The company's board approved a quarterly common stock dividend of $0.35 per share, payable September 1, 2023, to stockholders of record on August 4, 2023. The third quarter dividend represents an increase of $0.05 per share from the prior quarter.