BofA Joins Wells Fargo Boosting Payouts After Fed’s Stress Tests

BofA Joins Wells Fargo Boosting Payouts After Fed’s Stress Tests

Peter Foley/Bloomberg

Pedestrians pass in front of a Wells Fargo & Co. bank branch in New York. Wells Fargo, the biggest U.S. home lender, increased its quarterly dividend to 30 cents a share from 25 cents and said it would buy back more stock than last year, without elaborating.