Wells Fargo Announces $40 Billion Stock Buyback Plan

Wells Fargo has announced a new $40 billion stock repurchase program set to begin after the completion of its current buyback initiative. The board also declared a quarterly dividend of $0.40 per share, payable on June 1, 2025, reflecting the company's commitment to returning capital to shareholders. CEO Charlie Scharf highlighted Wells Fargo's strong balance sheet and capital position, noting that the bank has reduced its average common shares outstanding by 22% since 2019. The company will execute the new repurchase program in accordance with internal capital guidelines and market conditions. Wells Fargo, with around $1.9 trillion in assets, continues to invest in organic growth and earnings capacity, aiming to support a sustainable dividend and further share buybacks. The firm's recent performance and capital strategy underscore its position as a leading financial services institution.