Wells Fargo & Co. To Boost Dividend By 16.7% - Quick Facts

(RTTNews) - Wells Fargo & Company (WFC) Wednesday said the Federal Reserve Board approved the company's 2014 Capital Plan, which includes a proposed dividend rate of $0.35 per share, up 16.7 percent increase over the current rate of $0.30 per share.

The Wells Fargo Board of Directors have also approved an increase of 350 million additional shares in the company's authority to repurchase its common stock.

"The Federal Reserve Board's decision to issue a non-objection regarding our 2014 Capital Plan allows us to increase our common stock dividend and continue repurchase activity, which returns more capital to our shareholders while maintaining a strong capital position, " said Chairman and CEO John Stumpf.