June 29, 2020 / 8:45 PM / 7 days ago

BRIEF-Wells Fargo Issues Statement Regarding The Federal Reserve’S Stress Test Feedback

June 29 (Reuters) - Wells Fargo & Co:

* WELLS FARGO ISSUES STATEMENT REGARDING THE FEDERAL RESERVE’S STRESS TEST FEEDBACK

* WELLS FARGO & CO - EXPECTS COMMON STOCK DIVIDEND IN Q3 2020 WILL BE REDUCED FROM CURRENT LEVEL OF $0.51 PER SHARE.

* WELLS FARGO & CO - EXPECTS THAT LEVEL OF Q3 DIVIDEND WILL BE ANNOUNCED WHEN IT RELEASES Q2 FINANCIAL RESULTS

* WELLS FARGO & CO - EXPECTS ITS STRESS CAPITAL BUFFER TO BE 2.5%

* WELLS FARGO & CO - THERE REMAINS GREAT UNCERTAINTY IN PATH OF ECONOMIC RECOVERY

* WELLS FARGO & CO - CO’S “ECONOMIC ASSUMPTIONS HAVE CHANGED SIGNIFICANTLY SINCE LAST QUARTER”

* WELLS FARGO & CO - EXPECT Q2 RESULTS WILL INCLUDE INCREASE IN ALLOWANCE FOR CREDIT LOSSES SUBSTANTIALLY HIGHER THAN INCREASE IN Q1 Source text for Eikon: Further company coverage:

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