• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Wells Fargo announces $30 billion buyback, shares rise
Finance

Wells Fargo announces $30 billion buyback, shares rise

July 26, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Wells Fargo announces $30 billion buyback, shares rise
Share
Facebook Twitter LinkedIn Pinterest Email

Wells Fargo building in San Francisco.

Source: CNBC

Wells Fargo shares popped Tuesday after the bank said it would buy back $30 billion in stock.

The company also said its board of directors approved a previously announced dividend increase, to 35 cents per share from the previous 30 cents. The sum is payable on Sept. 1 to shareholders of record on Aug. 4.

Wells Fargo’s stock rose more than 3% in extended trading Tuesday.

The moves come after the bank beat second-quarter earnings and revenue expectations, driven by a 29% increase in net interest income. A flurry of rate increases by the Federal Reserve since last year has boosted key financial institutions — as borrowers face a larger interest burden.

The central bank is expected to hike rates again Wednesday as it tries to rein in elevated inflation.

Democratic lawmakers have introduced multiple bills that aim to curb stock buybacks by major corporations. They say the businesses are passing profits on to wealthier shareholders instead of increasing their employees’ pay.

The largest U.S. banks have announced plans to raise their quarterly dividends after they cleared the Federal Reserve’s annual stress test last month.

“Even with these significant investments, our capital levels are strong and we expect them to remain so, allowing us to return excess capital to our shareholders,” Wells Fargo CEO Charlie Scharf said in a statement accompanying the bank’s announcement.

See also  Major Food Franchise Pulls Dozens Of Stores Out Of Blue State As Costs Rise
Announces Billion buyback Fargo rise shares Wells
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

‘Oracle of Omaha’: Warren Buffett Announces Retirement, Confirms Successor

May 4, 2025

$15 Billion And Climbing: Trump’s Tariffs Deliver Record High Revenue

April 25, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Exclusive: Asia-focused HSBC puts 12 countries on exit watchlist

May 24, 2023

The State of South Asia in 2023

December 29, 2023

Animated ‘Spider-Man’ movie banned from Muslim countries, possibly over brief transgender messages

June 16, 2023

G7 plans new vaccine effort for developing nations, Yomiuri reports

May 14, 2023
Don't Miss

Short and Funny Sayings for a Happy Summer with Friends

Lifestyle May 9, 2025

I love the beach. Just looking at the calming sea to relax. Having fun in…

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,627)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Facebook Strikes Deal to Reenter Chinese Market

November 11, 2023

Justice Sotomayor mocked over factually incorrect claim in dissent against Christian web designer decision

July 1, 2023

TotalEnergies boss: 2024 U.S. election could cause energy shock

July 9, 2023
Popular Posts

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.