The U.S. Treasury is getting a dividend from Wells Fargo & Co. The bank announced a quarterly dividend payment of $371.5 million on its 25,000 shares of fixed rare cumulative perpetual preferred stock purchase by Treasury under the Capital Purchase Program.
And Wells continued to lend away in the fourth quarter, according to CFO Howard Atkins: “Last quarter alone, we made $22 billion in loan commitments and $50 billion in mortgage originations. That’s more than $70 billion or almost three times the amount of the U.S. Treasury’s investment in Wells Fargo.”
