Wachovia Corporation Increases Quarterly Dividend 14% To 64 Cents Per Share

CHARLOTTE, N.C.—Wachovia Corporation’s (NYSE:WB) board of directors today approved a 14 percent increase in the company’s regular quarterly cash dividend to 64 cents per common share, up from the current 56 cents per share. The new common stock dividend is payable on September 17, 2007, to shareholders of record as of the close of business on August 31, 2007.


“Today’s announcement reflects our Board’s confidence in Wachovia’s capital strength, liquidity, prudent risk profile and our future,” said Ken Thompson, chairman and chief executive officer of Wachovia. “We believe it is important that our shareholders are rewarded on their investment with a growing dividend.”