Wachovia Media Contact:
Jay E. Reed
(336) 732-5855
Investor Contact:
Alice Lehman
(704) 374-4139
Contact:
Betsy Weinberger
(704) 715-4539
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October 26, 2001
Wachovia Declares Cash Dividend on Common Stock
Charlotte, N.C. -- The board of directors of Wachovia Corporation (NYSE:WB) today approved the company's regular quarterly cash dividend on its common stock of $0.24 per share. The board also declared a quarterly cash dividend on its shares of Dividend Equalization Preferred Shares (DEPS) of $0.06 per share. The DEPS have been issued in connection with the merger between First Union Corporation and the former Wachovia Corporation on September 1, 2001.
The common stock dividend and the DEPS dividend are each payable on December 17, 2001, to holders of record, respectively, as of the close of business on November 30, 2001.
Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia with assets of $326 billion as of September 30 and $29 billion in stockholders' equity, is a leading provider of financial services to 19 million retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 47 states and global services through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com and firstunion.com.
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