Las Vegas, NV -- (SBWIRE) -- 01/23/2013 -- PennyStockParlay.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
On Tuesday Wells Fargo & Company (NYSE:WFC),raised its quarterly stock dividend by 14% awaiting the U.S. Federal Reserve permission to potentially return even more capital to shareholders in the coming year.
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The increase of 3 cents to 25 cents per share was part of a capital plan that received approval from the U.S. Federal Reserve in 2012 said the bank in a statement.
In March Wells raised its quarterly dividend by 10 cents to 22 cents per share after the Fed completed annual stress tests on large U.S. banks.
"We remain committed to returning more capital to our shareholders," Wells Chief Executive John Stumpf said in a statement.
The dividend of 25 cents per share is payable March 1 to stockholders of record on February 1. Wells has about 5.3 billion shares outstanding.
Shares of Wells Fargo & Company rose by 11 cents or 0.31% to close at $35.04 on Tuesday.
General Motors Company (NYSE:GM) in lieu of cutting down its cost said on Tuesday of its plan of closing a German factory at its Opel subsidiary earlier than proposed adding restructuring talks with unions must be wrapped up by February.
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"I have asked the Opel management and labor to reach a solution in February. Our Germany Plan must then be finalized," GM Vice Chairman Stephen Girsky told employees on Tuesday in a letter obtained by Reuters.
"The (current) contract expires at the end of 2014. Production of the Zafira in Bochum would then end and all assembly cease as of January 1, 2015," Girsky wrote in the letter, which was verified by General Motors.
"Ahead of today's negotiations in Bochum, the first since December's announcement, Steve Girsky appealed to staff to join company efforts in guaranteeing that Bochum has a future after 2016, even if it is not with Opel," the spokesman said.
"The situation in the entire European (car) market is still catastrophic," Girsky wrote in the letter. "That's a difficult precondition for forthcoming negotiations" with German staff.
GM forecast Opel will have made between $1.5 billion and $1.8 billion in losses last year, with only a slight improvement expected for this one. Detroit has pushed back the breakeven point, initially expected two years ago, to the middle of the decade.
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