WFC Wells Fargo and Company

By Stephen Nakrosis

Wells Fargo on Friday said it expects to pay a third-quarter dividend of 35 cents a share, up from the prior dividend of 30 cents, following the completion of the 2023 Comprehensive Capital Analysis and Review stress-test process.

The company also said it was expecting its stress capital buffer to decrease to 2.9%.

Wells Fargo also said during the period from the third quarter of 2023 through the second quarter of 2024, it has capacity to repurchase common stock, which the company will routinely assess.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

June 30, 2023 17:01 ET (21:01 GMT)

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