Wolverine World Wide, Inc. Announces 22.2% Increase to Quarterly Dividend

    ROCKFORD, Mich., Feb. 12 /CNW/ -- Directors of Wolverine World Wide, Inc.
(NYSE:   WWW) declared a quarterly cash dividend increase of 22.2 percent to
$0.11 per share of common stock. The dividend is payable on May 1, 2008 to
stockholders of record on April 1, 2008 and represents a $0.44 per share
annual dividend.
    Commenting on the increase, Blake W. Krueger, the Company's CEO and
President, stated, "The dividend increase demonstrates Wolverine's strong
commitment to maximizing shareholder return.  Driving shareholder value
through the generation of strong operating earnings, increased dividends and
continued share repurchases is a formula which can continue to reward our
long-term shareholders. We are able to continue these actions while
maintaining a very strong balance sheet that allows the Company to pursue
strategic initiatives as opportunities arise.
    "We anticipate another year of excellent cash generation from operating
activities in 2008, which will provide flexibility to increase our future
return to shareholders.  Today's announced 22.2 percent increase marks the
Company's fifteenth consecutive year of double-digit dividend increases and
represents a compounded annual growth rate of nearly 23 percent over that time
    With a commitment to service and product excellence, Wolverine World
Wide, Inc. is one of the world's leading marketers of branded casual, active
lifestyle, work, outdoor sport and uniform footwear and apparel.  The
Company's portfolio of highly recognized brands includes: Bates(R), Hush
Puppies(R), HYTEST(R), Merrell(R), Sebago(R) and Wolverine(R).  The Company
also is the exclusive footwear licensee of popular brands including CAT(R),
Harley-Davidson(R) and Patagonia(R). The Company's products are carried by
leading retailers in the U.S. and globally in over 180 countries. For
additional information, please visit our website, www.wolverineworldwide.com.

For further information:

For further information: Stephen L. Gulis Jr. of Wolverine World Wide, 
Inc., +1-616-866-5570 Web Site: http://www.wolverineworldwide.com

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