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Wachovia Corporation (NYSE:WB) announced that its board of directors approved the company's regular quarterly cash dividend on its common stock of 64 cents per share.
The common stock dividend is payable on March 17, 2008, to shareholders of record as of the close of business on Feb. 29, 2008.
In addition, Wachovia's board of directors approved a quarterly cash dividend of $18.6667 per share on its 8.00% non-cumulative perpetual class A preferred stock, Series J, liquidation preference $1,000 per share. This dividend equals $0.4667 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 "WBPRS." The Series J dividend is payable on March 17, 2008, to holders of record as of the close of business on Feb. 29, 2008.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, with assets of $782.9 billion and market capitalization of $75.3 billion at December 31, 2007. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to customers through 3,400 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $1.2 trillion in client assets through 17,900 registered representatives in 1,500 offices nationwide. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com; and investment products and services at evergreeninvestments.com.