Wells Fargo Raises Dividend

Wells Fargo (WFC), a diversified financial services company providing banking, insurance, loans and investment services, on July 16 said it's raising its quarterly dividend to 34 cents from 31 cents, a 10 percent hike.

WFC has raised its dividend for twenty one consecutive years, making the stock a candidate for a long-term dividend reinvestment portfolio.

However, like most other financial stocks, WFC is on the price downside so don't buy it just for the dividend yield. Monitor its price chart and buy it when you think prices have stabilized.

I (RAH) do not own WFC.

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Posted July 16, 2008.