Wells Fargo Receives No Objection to Its 2014 Capital Plan

  Wells Fargo Receives No Objection to Its 2014 Capital Plan

Business Wire

SAN FRANCISCO -- March 26, 2014

Wells Fargo & Company (NYSE: WFC) announced today that the Federal Reserve
Board (FRB) has not objected to the Company’s 2014 Capital Plan under the
recently concluded Comprehensive Capital Analysis and Review (CCAR) of the
nation’s largest banks.

The Company said that its 2014 Capital Plan includes a proposed dividend rate
of $0.35 per share for the second quarter of 2014, subject to consideration
and approval by its Board of Directors at its regularly scheduled meeting in
April. The proposed dividend rate represents a 16.7 percent increase over the
current rate of $0.30 per share. The plan also includes a proposed increase in
common stock repurchase activity for 2014 compared with 2013. The Wells Fargo
Board of Directors has approved an increase of 350 million additional shares
in the Company’s authority to repurchase its common stock.

“We are pleased to reward our shareholders’ commitment to Wells Fargo with
increased distributions for 2014,” said Chairman and CEO John Stumpf. “The
Federal Reserve Board’s decision to issue a non-objection regarding our 2014
Capital Plan allows us to increase our common stock dividend and continue
repurchase activity, which returns more capital to our shareholders while
maintaining a strong capital position.”

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, 12,000 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 264,000 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.

Cautionary Statement About Forward-Looking Statements

This news release contains forward-looking statements about our future
regulatory capital levels and possible future capital actions, including
common stock dividends and common stock repurchases. Forward-looking
statements speak only as of the date made, and we do not undertake to update
them. Actual capital levels and capital actions may vary materially from the
expectations described in this news release due to a number of factors,
including those described in our reports filed with the Securities and
Exchange Commission and available at www.sec.gov. The amount and timing of any
future common stock dividends or repurchases will depend on the earnings, cash
requirements and financial condition of the Company, market conditions,
capital requirements (including under Basel capital standards), common stock
issuance requirements, applicable law and regulations (including federal
securities laws and federal banking regulations), and other factors deemed
relevant by the Company’s Board of Directors, and may be subject to regulatory
approval or conditions. The Company may use shares of common stock acquired
under the repurchase authority for any corporate purpose.


Wells Fargo & Company
Mary Eshet, 704-383-7777
Jim Rowe, 415-396-8216
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