Wells Fargo Declares Dividends on Preferred Stock

Wells Fargo & Company WFC today announced dividends on two series of preferred stock. A quarterly cash dividend of $20 per share was declared on its 8.00% non-cumulative perpetual class A preferred stock, Series J, liquidation preference $1,000 per share. This dividend equals $0.50 per depositary share, each representing a 1/40th interest in a share of Series J preferred stock, which are traded on the New York Stock Exchange under the symbol “WFCPrJ.” The Series J dividend is payable on December 15, 2010, to holders of record as of the close of business on November 30, 2010. A quarterly cash dividend of $18.75 per share was declared on its 7.50% non-cumulative perpetual convertible class A preferred stock, Series L, liquidation preference $1,000 per share, which are traded on the New York Stock Exchange under the symbol “WFCPrL.” The Series L dividend is payable on December 15, 2010, to holders of record as of the close of business on November 30, 2010.