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 updated both my Passive Income page as well as my Portfolio page to reflect the changes.
My Thoughts:
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.
Thanks for reading, and don’t forget to follow me:
Do you own WFC? Happy about the dividend increase?
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Nice! Love receiving dividends! Keep it up!
Thanks Lance! You do the same!
We also own shares of WFC in our family’s dividend stocks portfolio. Looking forward to the raise!
Cheers to the dividend increase. AFFJ
Ooh yes. Cheers!
I’ll take that increase. It may be a token amount but it’s better than staying flat or reducing their dividend. I know MAT shareholders aren’t happy about the recent cut. It’s all about staying diversified and absorbing those inevitable cuts that happens to all of us.
Same here. I think the next two years they will start increasing a bit more than this year. Thanks for stopping by!!