Wells Fargo (NYSE:WFC) posted its first quarterly loss since 2008 and cut its quarterly dividend by over 80.4% from 51 cents to 10 cents per share. However, Wells Fargo stock will survive this just fine.
When did Wells Fargo reduce their dividend?
In 2009, during the Great Recession, Wells Fargo trimmed its quarterly dividend from $0.34 per share to just $0.05 per share, and the dividend didn’t return to its previous level for five years. The pandemic has been much different than the Great Recession.
Has Wells Fargo cut its dividend?
Following restrictions on bank capital distributions by regulators, and a $2.4 billion loss in the second quarter, Wells Fargo (NYSE: WFC) cut its dividend from $0.51 to $0.10 per share, a reduction of roughly 80%. … Prior to reducing its dividend, investors viewed Wells Fargo as an attractive dividend company.
Why did Wells Fargo cut its dividend?
Ben Eisen. Wells Fargo & Co. said it expects to cut its dividend for the first time in more than a decade to preserve capital to weather the coronavirus pandemic. The fourth-largest U.S. bank by assets said Monday it would cut its dividend from the 51 cents it paid in each of the four most-recent quarters.
Is Wells Fargo dividend Safe 2020?
Overall, KBW analysts believe dividends are “broadly safe” for 90% of banks. … Wells Fargo’s quarterly dividend is $0.51 per share. That would result in a yield of 9.10%, based on the stock’s closing price of $22.42 on May 13. Kleinhanzl in his note cited an estimated dividend payout of 221% for Wells Fargo in 2020.
What is the new Wells Fargo dividend?
Wells Fargo plans to double its quarterly dividend from 10 cents to 20 cents. The bank reduced in July 2020 the dividend from 51 cents to 10 cents during the early months of the COVID-19 pandemic.
How much is Wells Fargo dividend?
What stocks pay good dividends?
List of 25 high-dividend stocks
|Symbol||Company Name||Dividend Yield|
|LYB||LyondellBasell Industries NV||4.39%|
|GILD||Gilead Sciences Inc.||4.12%|
Did Warren Buffett sell Wells Fargo?
Berkshire (BRK. A, BRK.B) has been steadily selling its stake in Wells Fargo since early 2020. The company held 345 million shares of Wells Fargo at the end of 2019. CEO Warren Buffett had long been a fan of the bank, having held a stake for more than 30 years.
Is Wells Fargo a good stock?
Its Relative Strength Rating is currently 87 out of 99. This means WFC is in the top 13% of stocks in terms of stock market performance over the past 12 months. Analysts see some light at the end of the tunnel for Wells Fargo however. They expect Wells Fargo’s full year earnings to climb by 184% to $3.81 in 2021.
Is Wells Fargo a buy sell or hold?
Wells Fargo & Company holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.