Wells Fargo keeps quarterly dividend unchanged at 5 cents

Wells Fargo keeps quarterly dividend at 5 cents

SAN FRANCISCO — Wells Fargo & Co. said it will pay a quarterly dividend of 5 cents per common share — unchanged from the previous quarter’s payout, but less than one-sixth of the dividend the bank had been paying earlier.

The dividend is payable Sept. 1 to shareholders of record on Aug. 7. San Francisco-based Wells Fargo has about 4.7 billion shares outstanding.

Wells Fargo’s previous quarterly payout declared on April 28 also was 5 cents, but that dividend was down from 34 cents per share in the preceding three quarters.

Shares of Wells Fargo rose 30 cents, or about 1.2 percent, to close at $24.52.