02:08 PM EDT, 04/29/2025 (MT Newswires) -- (Updates with latest stock price movement in the headline and first paragraph.)

Wells Fargo ( WFC ) shares were up 2.6% in recent trading Tuesday after the company announced a new stock repurchase plan.

Earlier today, the bank said its board authorized a new stock repurchase program of up to $40 billion, which will start after completion of the current repurchase program.

In addition, the bank kept its quarterly dividend at $0.40 per share, payable June 1 to stockholders of record as of May 9.

Price: 71.21, Change: +1.78, Percent Change: +2.56