While I was doing some end-of year clean-up activities I noticed that Wells Fargo & Company (WFC) raised their dividend by a penny this past July. I was expecting an increase three months earlier, but they decided to keep the dividend at the same rate for a fifth quarter. I assumed they were not raising the dividend until next year, but I was mistaken.
The 3% increase and previous dividend reinvestment meant that my September 2017 dividend payment was 6% higher than my first dividend payment one year earlier. Looking forward, WFC might be a great investment, but the recent tiny dividend increases are a little bit disappointing.
While the dividend has moved up slightly, the value of my shares has gone up at a higher rate. There is always something to be happy about.
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