Wells Fargo plans to increase dividend

Wells Fargo & Co. said late Monday it expects to increase its third quarter dividend to 30 cents a share, from 25 cents a share, subject to approval by the company’s board at its July meeting. The bank also said it has “significant capacity” to buy back its shares within the next four quarters through the second quarter of 2023. The buybacks “will be routinely assessed” as the bank considers market conditions and other factors, it said. Shares of Wells Fargo were flat in the extended session Monday after ending the regular trading day down 1.3%.

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