Wells Fargo & Company Announces Increased Dividend

Tue Jan 22, 2013 4:15pm EST

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SAN FRANCISCO--(Business Wire)--
Wells Fargo & Company (NYSE: WFC) today announced a quarterly common stock
dividend of $.25 per share, an increase of three cents, or 14 percent, per share
from the prior quarter. The dividend is payable March 1, 2013, to stockholders
of record on February 1, 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 first quarter of 2013 was part of the company`s
2012 Capital Plan that the Federal Reserve did not object to in March, 2012.
Wells Fargo submitted its 2013 Capital Plan on January 4, 2013, and it is
currently under review by the Federal Reserve. 

"The dividend increase approved by our board today was included in our 2012
Capital Plan and reflected 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. We requested an increase in capital distributions
in our 2013 Capital Plan as compared to our 2012 plan, subject to review and
non-objection by the Federal Reserve Board." 

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, 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 265,000 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

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.

Wells Fargo
Ancel Martinez, 415-222-3858 (Media)
Jim Rowe, 415-396-8216 (Investors) 

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