Got a Raise Today
Wells Fargo (WFC) hiked it's quarterly dividend by 3 cents or 14%.
Key quote in the press release:
"We remain committed to returning more capital to our shareholders. We requested an increase in capital distributions in our 2013 Capital Plan as compared to our 2012 plan, subject to review and non-objection by the Federal Reserve Board.”
If the same pattern as last year plays out, there'll probably be another hike when/if the 2013 plan gets approved.