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Press release from Business Wire

Wells Fargo & Company Announces Increased Dividend

Tuesday, April 23, 2013

Wells Fargo & Company Announces Increased Dividend

16:01 EDT Tuesday, April 23, 2013

SAN FRANCISCO (Business Wire) -- Wells Fargo & Company (NYSE: WFC) today announced a quarterly common stock dividend of $.30 per share, an increase of five cents, or 20 percent, per share from the prior quarter. The dividend is payable June 1, 2013, to stockholders of record on May 10, 2013, 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 2013 was part of the company's 2013 Capital Plan that the Federal Reserve did not object to in March 2013.

“The dividend increase approved by our board today is up 36 percent from a year ago and reflects the confidence we have in our company's performance,” Chairman and CEO John Stumpf said. “We remain committed to returning more capital to our shareholders.”

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 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 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune's 2012 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.

Cautionary Statement About Forward-Looking Statements

This news release contains forward-looking statements about future capital distributions by Wells Fargo. Forward-looking statements speak only as of the date made, and we do not undertake to update them. The amount and timing of any future capital distributions, including common stock dividends or repurchases, are subject to regulatory approvals and conditions, and will depend on a number of factors including: the earnings, cash requirements and financial condition of Wells Fargo; market conditions; Wells Fargo's capital requirements (including under Basel capital standards); Wells Fargo's common stock issuance requirements; applicable law and regulations (including federal securities laws and federal banking regulations); and other factors deemed relevant by Wells Fargo's Board of Directors.

For Wells Fargo & Company
Media
Ancel Martinez, 415-222-3858
or
Investors
Jim Rowe, 415-396-8216

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