WELLS FARGO & COMPANY INCREASES CASH DIVIDEND
SAN FRANCISCO — July 24, 2001
Wells Fargo & Company (NYSE: WFC) today announced an increase in its quarterly common stock dividend to 26 cents per share from 24 cents per share. The dividend is payable on September 1, 2001 to stockholders of record on August 10, 2001. Wells Fargo's last dividend increase was effective December 1, 2000 when the dividend was raised from 22 cents per share to 24 cents per share.
"This will be the 13th consecutive dividend increase in nine-month intervals in the past 10 years," said Chairman and CEO Dick Kovacevich. "Our ability to consistently increase our dividend is a direct result of the company's continued strong performance, asset quality, capital strength and growth potential."
Wells Fargo has approximately 1.7 billion shares of common stock outstanding.
Wells Fargo & Company is a diversified financial services company with $290 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,400 stores and the Internet (wellsfargo.com ) across North America and elsewhere internationally.