Tag Archives: NYSE:WFC

Wells Fargo and Simon Property Stocks Cut Their Dividends

The market needs to brace itself for more dividend cuts. Investors need to tread carefully investing in retail REITs, banks, or energy. If you’re investing in the spaces, it’s likely that dividends aren’t your top priority. A multi-year turnaround plan sounds plausible.

Wells Fargo Cutting Its Dividend this Month

It’s expected that Wells Fargo (NYSE:WFC) will partially cut its dividend in Q3 to comply with the Federal Reserve’s stress tests. It will announce the new dividend when it reports quarterly results on July 14.

In the last great recession triggered by a financial crisis about 11 years ago, the stock traded as low as a P/E of 5 based on normalized earnings. That would imply a buy target of about $18 — if you’re looking for a multi-year turnaround play.

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Top U.S. Dividend Growth Stocks for January

The U.S. stock market, using SPDR S&P 500 ETF Trust (NYSE:SPY) as a proxy, has bounced about 8% from a low in December. The ETF has some strong resistance at the US$270 range. It needs to break that range and make a new high to indicate that the correction that started in October won’t continue.

technical chart showing SPY bouncing from Dec 2018 low
Source: Stockcharts

Despite the market rebounding, there are still some good-value quality U.S. dividend growth stocks for long-term investing. Here are two out of seven top U.S. dividend ideas I wrote about here in December. They’re still great buys today.

dividend income
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