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dcollon

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Posts posted by dcollon

    Weird

    in Berkshire Hathaway

    Posted

    I was at the meeting and don't think the Bloomberg story depicts exactly what was said.  I'm when someone produces their transcript, it will come out in a more understandable way.

     

    Convertible and Preferred Stocks

    in General Discussion

    Posted

    Myth,

     

    Depending on a person's views on the underlying business the following are interesting to me around current prices:

     

    HIG,a

    NXY,b

     

    I agree with your thoughts on FUR,d.  There are certainly others that could become interesting, but in my opinion we have to have some panic again before they get to compelling prices.

    WFC Stress Test Results

    in General Discussion

    Posted

    Wells Fargo & Company Increases Quarterly Cash Dividend Rate to $0.22

    Tuesday, March 13, 2012 04:45:00 PM

     

     

    Wells Fargo & Company (NYSE: WFC) today announced an additional first quarter 2012 dividend on its common stock of $0.10 per share, which together with the $0.12 per share dividend previously declared on January 24, 2012, brings the total dividend declared for the first quarter to $0.22 per share. The additional dividend is payable March 30, 2012, to stockholders of record on March 26, 2012.

     

    The Company also announced that the Federal Reserve did not object to its Capital Plan submitted in January 2012, or to the dividend rate increase and other capital actions included in the plan.

     

    “We are extremely pleased to reward our shareholders with an increased dividend rate for a second consecutive year,” said Chairman and CEO John Stumpf. “Today’s decision by the Federal Reserve Board allows us to increase the dividend and undertake other actions to return capital to our shareholders. Our ability to do this is a testament to our diversified business model, which has allowed us to continue to grow capital, while at the same time growing our balance sheet and providing our shareholders with more return on their investment.

     

    “The Federal Reserve's stress test scenario applied a series of very conservative assumptions to validate the industry’s ability to perform and maintain adequate capital in the event of unlikely, dire circumstances. Wells Fargo has always managed its business to perform for shareholders through a variety of economic environments and we are pleased that this process again validates the strength of our franchise.”

     

    In addition to the increased dividend rate, the Company’s capital plan allows for a higher level of common share repurchase activity in 2012 versus 2011. The plan also includes selective redemptions of trust preferred securities that no longer count as Tier 1 Capital under the Dodd-Frank Act.

     

     

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