NEW YORK (TheStreet)-- Wells Fargo (WFC) CEO John Stumpf wouldn't answer questions Wednesday on the departure of Howard Atkins, the bank's former financial chief, preferring instead to focus on the bank's dividend and buyback.
"That is so yesterday. We have a terrific CFO; we are going forward and we are looking to the future," said Stumpf in the bank's conference call Wednesday.
Stumpf said the bank's board approved a second-quarter dividend of 12 cents a share, the same amount as the first quarter, and will soon begin to buy back up to 200 million shares.
"This month the bank will start to buy back shares," said Stumpf. "It is going to be a function of how we view the stock price more than anything."Shares of Wells Fargo were falling $1.35 to $28.72 in early afternoon trading Wednesday.
|Wells Fargo CEO John Stumpf|
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