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Investing

Wells Fargo: What A Dividend Doubling Looks Like (WFC, BRK-B)

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By Jon C. Ogg Published
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Wells Fargo & Co. (NYSE: WFC) has announced that the Federal Reserve did not object to its capital return plan for its shareholders.  The first quarter dividend is effectively more than doubling as it is adding on a $0.12 payment to its $0.10 per share quarterly dividend.

With this being one of Warren Buffett’s favorite bank and a key holding of Berkshire Hathaway Inc. (NYSE: BRK-A), this is going to be a good payday for Mr. Buffett.  The shares closed up 5.8% at $33.33 at a new 52-week high today with a $175 billion market value..

Wells Fargo was trading at only a 1.5% dividend yield before today’s hike.  We do not have a formal size of the buyback, but here is what it said: “In addition to the increased dividend rate, the Company’s capital plan allows for a higher level of common share repurchase activity in 2012 versus 2011.”

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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