- June 29, 2021
- Posted by: Stratford Team
- Category: Business
SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE: WFC) today announced that it has completed the 2021 Comprehensive Capital Analysis and Review (CCAR) stress test process. The Company expects its stress capital buffer (SCB) to be 3.1%, which represents a percentage amount of incremental capital the company must hold above its minimum regulatory capital requirements. The Federal Reserve Board (FRB) has indicated that it will publish the Company’s final SCB by August 31, 2021.
The Company expects to increase its third quarter 2021 common stock dividend to $0.20 per share from $0.10 per share, subject to approval by the Company’s Board of Directors at its regularly scheduled meeting in July. Additionally, the Company’s capital plan includes common share repurchases1 of approximately $18 billion for the four-quarter period beginning third quarter 2021 through second quarter 2022. The Company will continue to prudently manage…
