$WFC dividend is only going to be cut for Q3 at the moment and everyone already knew that was coming. This will not be a large cut, assuming .35/share aka ~6% (still a LARGE dividend). If they choose to increase the dividend after Q3 they may do so.. The dividend cut will help fundamentals and allow the bank to make more money. Loan losses will not be as serious as originally thought. Charlie Scharf will lead WFC in the right direction and passed the Fed asset cap. The dividend will go down slightly but the share price will still rocket from these 10 year lows.
  • 12
12 Likes