Wells Fargo & Company Announces Increased Dividend

Wells Fargo & Company (NYSE:WFC) today announced a quarterly common stock dividend of $.35 per share, an increase of five cents, or 17 percent, per share from the prior quarter. The dividend is payable June 1, 2014, to stockholders of record on May 9, 2014, as approved today by the Wells Fargo board of directors. Wells Fargo has approximately 5.3 billion shares outstanding. This dividend increase for the second quarter of 2014 was part of the company’s 2014 Capital Plan that the Federal Reserve did not object to in March 2014.

"Returning more capital to our shareholders has remained a priority for Wells Fargo and we are pleased to announce this increased dividend,” Chairman and CEO John Stumpf said. “I am optimistic about the opportunities ahead for our diversified business model and believe that we are well positioned for growth.”

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2013 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

Copyright Business Wire 2010

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