By Michael Dabaie

Wells Fargo & Co. boosted its quarterly common stock dividend to 25 cents a share.

The firs- quarter dividend represents an increase of 5 cents a share from the prior quarter, the financial services company said.

"We've made significant changes across the company which have improved our financial performance and I'm pleased that we are now in a position to increase the dividend. We have more work to do and we continue to be focused on further increasing our dividend as we grow the earnings capacity of the company," Chief Executive Charlie Scharf said.

Wells Fargo shares were up 0.6% to $53.62.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

January 25, 2022 14:11 ET (19:11 GMT)

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