Market Overview

Wells Fargo & Company Increases Common Stock Dividend

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Wells Fargo & Company (NYSE:WFC) today announced a quarterly common
stock dividend of $0.43 per share, payable September 1, 2018 to
stockholders of record on August 10, 2018, as approved today by the
Wells Fargo board of directors. The third-quarter dividend represents an
increase of $0.04 per share, or 10 percent, from the prior quarter.
Wells Fargo has approximately 4.8 billion shares outstanding.

The dividend increase is part of the company's 2018 Capital Plan, which
was submitted to the Federal Reserve as part of the recently concluded
Comprehensive Capital Analysis and Review (CCAR). In June, the Fed
announced it had no objection to Wells Fargo's 2018 Capital Plan, which
covers the four-quarter period from third quarter of 2018 through second
quarter of 2019. The plan also includes up to $24.5 billion of common
stock repurchases for the same four-quarter period. For the previous
four quarters ended second quarter 2018, the Company repurchased $11.4
billion of common stock. Quarterly common stock repurchases are subject
to management discretion.

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo's
vision is to satisfy our customers' financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investments, mortgage, and consumer and
commercial finance through 8,050 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 38 countries and
territories to support customers who conduct business in the global
economy. With approximately 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 2018 rankings of America's largest
corporations.

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