WELLS FARGO doubled their dividend.

After WELLS FARGO got approval from the FED, they doubled their quarterly dividend from $0.12 to .22 cents.

The increase is much larger than bank buyers were anticipating. This means that WFC is in a stronger position than many of its bank peers. Their capital levels and quality of their credit had to be sound for the FED to approve such a large increase.

The Fed also gave the green light to WFC for its aggressive capital plan. The capital plan includes share buybacks and redemptions of trust preferred securities.