This is the first company to announce a dividend increase for this month in my portfolio.
Wells Fargo & Co (WFC) just declared $0.39 quarterly dividend. This is an increase of 2.63% from $0.38.
I own 73 shares, so this will increase my annual dividend income by $2.92 to $3,773.36
I am very happy with my holding of WFC and do not plan to add more shares anytime soon unless there is a big drop in price as WFC is full position currently. I have been doing very well with this holding as I am up 13.29% plus dividend.
Last year they increased it by 1.3% and the year before 7.1%. This year was a little better than last year, but it is still lower than inflation. WFC current dividend payout is at 38% right now and I think they will start increasing the dividend in the middle single digit soon.
I find the stock to be fair to slight undervalued and I would recommend a BUY.
I won’t be “Backing up the truck” with WFC at this level, but opening a position or just adding a few more shares here would be fine in the long term.
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Do you own WFC? Happy about the dividend increase?
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