Wells Fargo (WFC) cuts dividend to $0.05/quarter from $0.34, retaining $5B/year. "This was a...

|About: Wells Fargo & Co. (WFC)|By:, SA News Editor

Wells Fargo (WFC) cuts dividend to $0.05/quarter from $0.34, retaining $5B/year. "This was a very difficult decision but it's absolutely right for our Company and our shareholders because it will further strengthen our ability to grow market share and to continue our long track record of profitable growth." Shares +5.3% premarket. (PR)