question about wells fargo share buy back

[redwood]

In q4 conference call the ceo said

 

We also increased capital levels while providing shareholders with a higher return on their investment by increasing our dividend and repurchasing 86 million shares of common stock.

 

However in the q4 earning news release it is showing the number of shares in fact increased during the year.

 

Average common shares outstanding  Year ended Dec. 31  (2011 and 2010)

5,278.1

5,226.8

Diluted average common shares outstanding

5,323.4

5,263.1

 

I am confused.

[bmichaud]

If you look at shares out as of quarter end for the last three quarters, they've actually been coming down. See attached.

WFC_Quarterly_Balance_Sheet.pdf