A stock’s dividend reliability is determined by a healthy payout ratio that is higher than other stocks. They’re down 52% this year. Certain financial information included in Dividend.com is proprietary to Mergent, Inc. ("Mergent") Copyright © 2014. Wfc Choose 'Events', 'Dividends' to see the dividend payout dates in the graph below. CEO Charles Scharf recently said, "We expect our second-quarter results will include an increase in the allowance for credit losses substantially higher than the increase in the first quarter." Not only will banks not be allowed to increase their dividends for the time being, but the payment of any dividend is dependent on a four-quarter average of each bank's net income. Find the latest Wells Fargo & Company (WFC) stock quote, history, news and other vital information to help you with your stock trading and investing.

Wells Fargo ( NYSE:WFC) has taken a chainsaw to its dividend. Second, this is likely to be a temporary cut, and one that still results in a pretty impressive dividend yield. The second quarter was not a quarter for the ages; that combination of factors helped drive Wells Fargo's revenue down by 18% on a year-over-year basis, and flipped its bottom line deep into the red at $2.4 billion. If this is the case, it's likely that it will push Wells Fargo's net income into negative territory. See you at the top! Market data powered by FactSet and Web Financial Group. Consumer loans fell $20.1 billion from the prior quarter, driven by a $16.7 billion decrease in real estate and junior lien mortgage loans, "as originations and draws of existing lines were more than offset by paydowns and a reclassification of $10.4 billion in loans held on its books, as well as a $2.6 billion drop in credit card loans. All stock quotes on this website should be considered as having a 24-hour delay. Daily dividend news for investors in dividend stocks. Is Wells Fargo a Buy After Third-Quarter Earnings? Dividend News ›› Stay up to date with timely dividend news. AmTrust Financial Corp $139.27 $0.00 0.000% Abington … Net interest income was $9.88 billion, down $2.2 billion on year, while non-interest income was $8 billion, down $1.5 billion. By contrast, the wider stock market fell marginally on the day. Wells Fargo posts a deeper-than-expected second-quarter loss and slashes its dividend by a wider-than-expected margin as the coronavirus pandemic slams earnings. Wells Fargo will slash its dividend, breaking rank with Wall Street’s other big banks following the Federal Reserve’s new restrictions on dividend payouts. See you at the top! The Retirees' Dividend Portfolio - John And Jane's June Taxable Account Update: The Danger Of Making... Wells Fargo & Co Earnings: Get Ready for a Dividend Hike, Dividend Growth 50: Oh Deere Me, This Portfolio's Income Just Keeps Plowing Ahead, My Dividend Growth Portfolio: Q2 2019 Summary, Big Banks Just Announced Big Dividend Increases And Share Repurchase Programs, Bank Of America: Capital Returns May Lead To A 14% Yield. Analysts polled by FactSet had been looking for a loss of 16 cents a share. Revenue came in at $17.8 billion, down from $21.6 billion in the second quarter of 2019. Become a Premium Member to “stick” up to 3 rows and access more exclusive benefits. Portfolio management news, reports, video and more. Upgrade to Premium to access your Watchlist and more. Forward yield 4.32% Payable Sept. 1; for shareholders of record Aug. 9; ex-div Aug. 8. Last week, the Federal Reserve announced that it would be restricting dividend payments for big banks after conducting the 2020 version of its stress test. They’re down 52% this year. The San Francisco-based bank reported a net loss of $2.4 billion, or 66 cents a share, for the second quarter, vs. income of $6.2 billion, or $1.30 a share, in the comparable year-earlier quarter. However, the remaining member of the "big four" -- Wells Fargo (NYSE:WFC) -- didn't exactly give income investors good news. Stock Advisor launched in February of 2002. Commercial loans, meantime, were down $54.5 billion compared with March 31, "predominantly due to a $54.9 billion decline in commercial and industrial loans driven by repayment of revolving lines that were drawn in March at the outset of the Covid-19 pandemic," the company said. Wells Fargo  (WFC) - Get Report on Tuesday posted a deeper-than-expected second-quarter loss and slashed its dividend by a wider-than-expected margin as the coronavirus pandemic continued to slam the bank's earnings and profit outlook. Please help us personalize your experience. Criticized Loans Are Stabilizing at Many of the Large Banks, These 3 Value Stocks Are Absurdly Cheap Right Now, 2 Potential Suitors for Wells Fargo's Asset Management Business, Copyright, Trademark and Patent Information. You take care of your investments. But it still beefed up its war chest in anticipation of a wave of defaults. Some of the services provided are retail, commercial and corporate banking through banking stores and offices, the Internet and other distribution channels to individuals, businesses and institutions. In the first quarter, Wells Fargo built its reserves by $3.1 billion, which caused earnings to fall by $0.73 to just $0.01 per share. As with other lenders, it has sharply increased its loan loss provisioning in anticipation of widespread defaults from borrowers affected by the economic damage inflicted by the pandemic. The firm has offered the highest dividend yield of the largest U.S. banks in the last 12 months, and paid out $2.1 billion in dividends in the first quarter even as profit tumbled to just $653 million. Shares of Wells Fargo dropped 6.5% to $25.58 at 1:04 p.m. in New York, compared with a 3.7% decline for the S&P 500 Financials Index.


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