Tuesday, August 21, 2007

Wachovia Increases Dividend 14.3%

Wachovia (WB) announced it was increasing its quarterly dividend 14.3%. The new quarterly dividend increases to 64 cents per share versus 56 cents per share in the same quarter last year. Analyst estimates have WB's earnings growing from $4.91 in 2007 to $5.34 in 2008. This represents an 8.75% earnings growth rate.

It should be noted WB acquired Golden West Financial on October 1, 2006. Additionally, on March 31, 2007, WB announced the planned acquisition of A.G. Edwards (AGE).

(click on table/chart for larger image)

Wachovia dividend analysis August 21, 2007
Wachovia stock chart August 21,2007

No comments :