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bookie71
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05:12 PM 09/01/09

 

DJ Wells Fargo CEO: Expect To Repay TARP Soon Without Share Sale-Bloomberg

Thought you might be interested in this:

 

 

 

DOW JONES NEWSWIRES

 

 

Wells Fargo & Co. (WFC) expects repay $25 billion from the government's Troubled Asset Relief Program without a new share sale, the bank's chief executive told Bloomberg News Tuesday. "We will pay it back, but we're going to pay it back in a shareholder-friendly way," John Stumpf said on Bloomberg TV. "We are now earning capital so quickly, organically, we don't want to dilute our existing shareholders."

 

Full story at http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=WFC%3AUS&sid=allmwXXTY5ok

 

-Dow Jones Newswires; 212-416-2900

 

 

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=aRYUVpYKVvI7DbFf52kn9A%3D%3D. You can use this link on the day this article is published and the following day.

 

 

(END) Dow Jones Newswires

 

September 01, 2009 16:16 ET (20:16 GMT)

 

 

 

 

 

 

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Guest Broxburnboy

This is the type of "news" that is really not news at all..it's shineola..a CEO talking his book.

Real news would be "Wells Fargo repays all TARP funds without cutting dividend".

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Remember the stress tests, the govt made them raise capital even though more competent analysts like Warren Buffett said that it was ridiculous.

 

The dividend cut was a means of avoiding yet even more capital to be raised.

 

So, in that light what do you dislike about their dividend cut?

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