Wells Fargo Repurchasing Millions of Shares
Wells Fargo and Company says its board has authorized the repurchase of an additional 25 million, or 1.5 percent, of is outstanding shares.
Stock prices for the fifth-largest U.S. bank has declined 1 percent this year. It fell 88 cents in New York Stock Exchange composite trading Wednesday.
The shares acquired under the program may be used to issue common stock for benefit plans, fund acquisitions or for other general corporate purposes, Wells Fargo says. The new program will cost $1.54 billion.
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