Wells Fargo Announces $40 Billion Stock Repurchase Program

In a bold move to return value to its shareholders, Wells Fargo & Company revealed on Tuesday that its board has approved a new $40 billion common stock repurchase program. This initiative will kick in once the current program is finalized, utilizing the company's internal capital adequacy framework to navigate market conditions and risks effectively.

Quarterly Dividend Also Approved

Alongside the repurchase announcement, the board has also sanctioned a quarterly common stock dividend of $0.40 per share. This dividend is set to be distributed on June 1, 2025, to all stockholders recorded by May 9.

CEO Charlie Scharf commented, "Our strategic investments across our businesses are driving organic growth and enhancing our earnings capacity. This enables us to uphold a competitive and sustainable dividend while also returning excess capital to our shareholders through repurchases."