Dividend Increase - Wells Fargo (WFC)
This is a little late but I just saw it as I was checking some of my positions. On January 23rd, Wells Fargo's Board announced an increase in their quarterly dividend from $0.22 to $0.25 per share. This represents a 13.64% increase over the previous rate. The new rate will be payable March 1st to shareholders of record as of February 1st. I expect this year we'll see some pretty sizable dividend increases from the financial sector and this is the first of my holdings.
I hold shares in WFC in both my FI portfolio and my Roth IRA. In my FI portfolio I'll receive an extra $1.60 in annual dividends due to the increase and my YOC increased from 3.64% to 4.14%. In my Roth IRA I'll receive an extra $3.08 in annual dividends and my YOC increased from 3.45% to 3.92%. The overall YOC for my FI portfolio now sits at 2.79% and for the Roth IRA it's 3.06%.
My forward 12-month dividends increased to $1,825.29 and $206.11 respectively.
I hold shares in WFC in both my FI portfolio and my Roth IRA. In my FI portfolio I'll receive an extra $1.60 in annual dividends due to the increase and my YOC increased from 3.64% to 4.14%. In my Roth IRA I'll receive an extra $3.08 in annual dividends and my YOC increased from 3.45% to 3.92%. The overall YOC for my FI portfolio now sits at 2.79% and for the Roth IRA it's 3.06%.
My forward 12-month dividends increased to $1,825.29 and $206.11 respectively.
I have never been one to invest in bank stocks. Theirs just to much uncertainty surrounding companies involved in the financial services industry. Great economies and countries are not built upon a bloated financial services economy. Companies and economies and countries cannot live on financial services alone.
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