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.
