Wells Fargo Declares Special Dividend of $0.07 per share

Wells Fargo & Company (WFC) announced a special Q1 2011 cash dividend on its common stock of $0.07 per share, which together with the $0.05 per share dividend declared on January 25, 2011, brings the total dividend declared for the first quarter to $0.12 per share. The special dividend is payable March 31, 2011, to stockholders of record on March 28, 2011.

Wells also increased the company’s authority to repurchase common stock by an additional 200 million shares.

WFC rose 89 cents, or 2.87%, to $32.24 in NYSE trading at 11:45 a.m. New York time.

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