25 Best Dividend Stocks to Buy According to Billionaires

5. Wells Fargo & Company (NYSE:WFC)

Number of Billionaire Investors: 18

Dividend Yield as of March 3: 2.05%

Wells Fargo & Company (NYSE:WFC) is a California-based multinational financial services company. In the fourth quarter of 2024, the company reported revenue of $20.3 billion, reflecting a modest 0.5% decline from the same period the previous year. However, net income saw a significant jump, rising to $5.07 billion from $3.4 billion a year earlier. This improvement was largely driven by a 15% year-over-year increase in fee-based revenue, which helped offset the expected decline in net interest income. In addition, operating expenses were lower than the previous year, while credit trends remained stable. The company also maintained a strong capital position, ending the year with a CET1 ratio of 11.1%.

While consumer banking continues to be Wells Fargo & Company (NYSE:WFC)’s primary revenue source, its investment banking segment has become an important growth driver. In the latest quarter, investment banking fees surged by 59% year-over-year. Over the past 12 months, the company’s stock has climbed by over 38%.

On January 28, Wells Fargo & Company (NYSE:WFC) declared a quarterly dividend of $0.40 per share, maintaining the same payout as the previous quarter. With a history of uninterrupted dividend payments since 1988, the company remains one of the best dividend stocks. As of March 3, the stock has a dividend yield of 2.05%.