Wells Fargo & Company (NYSE: WFC) has announced that they have redeemed the $25 billion of series D preferred stock issued to the US Treasury under the Troubled Asset Relief Program's Capital Purchase Program. As part of the redemption of preferred stock, Wells Fargo had also paid dividends of $131.9 million, which brings the total dividends paid to the US Treasury and US taxpayers to $1.441 billion since the preferred stock was issued in October 2008. By repaying the TARP investment, Wells Fargo eliminates $1.25 billion in future annual preferred stock dividends.
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Wells Fargo & Company (Wells Fargo) is a financial holding company and a bank holding company. The Company is a diversified financial services company providing retail, commercial and corporate banking services through banking stores located in 39 states and the District of Columbia.
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