Wells Fargo extends stock repurchase program

Wells Fargo (NYSE: WFC) announced board authorization to repurchase an additional 75 million shares. This authorization is in addition to the remaining capacity of 61.8 million shares in the current buy back program. The quarterly dividend remains unchanged at $0.28 per share after an 8% increase in June 2006.



The extension of the repurchase program ensures that the company will have capacity to maintain the annualized 44 million share repurchase pace of the past 2 quarters for an effective buyback of $0.45 per share. The annualized dividend of $1.12 combined with the $0.45 from the repurchase program will result in a Total Payout of $1.57 over the next 4 quarters. At $35 per share, the Total Payout Yield is projected to be 4.5%.

- Payout Yield Staff


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