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As part of the redemption of the preferred stock, Wells Fargo also paid accrued dividends of $131.9 million, bringing the total dividends paid to $1.441 billion since the preferred stock was issued in October 2008. In April 2009, Wells Fargo acquired North Coast Surety Insurance Services.
Wells Fargo & Company Declares Cash Dividends on Preferred Stock SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company (NYS: WFC) today announced dividends on four series of preferred stock. A ...
On October 28, 2008, Wells Fargo was the recipient of $25B of the Emergency Economic Stabilization Act Federal bail-out in the form of a preferred stock purchase. [17] [18] Tests by the Federal government revealed that Wells Fargo needed an additional $13.7 billion in order to remain well-capitalized if the economy were to deteriorate further ...
However, it retains Norwest's pre-1998 stock price history and corporate structure, and all pre-1998 SEC filings are under Norwest, not Wells Fargo. Former Wells Fargo stockholders held 52.5 percent of the newly combined company and former Norwest stockholders held 47.5 percent. Paul Hazen, chairman and CEO of Wells Fargo, become chairman of ...
Financial services giant Wells Fargo announced yesterday dividends on five series of its preferred stock, all payable on June 17 to the holders of record at the close of business on May 31.
Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo and Company in 2008, Wachovia was the fourth-largest bank holding company in the United States, based on total assets. [3] Wachovia provided a broad range of banking, asset management, wealth management, and corporate ...
The settlement class consists of people or entities that purchased common stock in Wells Fargo between Feb. 2, 2018, and March 12, 2020, according to the lawsuit. That means anyone who owned Wells ...
The FDIC guaranteed to Citigroup to cover any losses on the Wachovia banking portfolio greater than $42 billion, in exchange for $10 billion in preferred stock. However, Wachovia was eventually sold to Wells Fargo without government assistance, voiding the Citibank deal. Troubled Asset Relief Program