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Wells Fargo increases dividend

Source : AP
Last Updated: Tue, Jan 22, 2013 22:30 hrs

Wells Fargo & Co. is increasing its regular quarterly dividend by 3 cents to 25 cents, an increase of nearly 14 percent.

The country's biggest mortgage lender says the dividend will be payable March 1 to shareholders of record as of Feb. 1.

Wells Fargo indicated last year that it might boost its dividend in 2013 as part of its 2012 capital plan that the Federal Reserve did not object to in March 2012. The Federal Reserve is now reviewing Wells Fargo's 2013 capital plan.

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