diff --git a/docs/changes.txt b/docs/changes.txt
index eaa1f2a749..04c318080a 100644
--- a/docs/changes.txt
+++ b/docs/changes.txt
@@ -47,6 +47,7 @@ wxMSW:
 - Fix handling of selected images in wxBitmapButton (Artur Wieczorek).
 - Fix loading of bitmap with non-pre-multiplied alpha (Artur Wieczorek).
 - Support multiline strings in wxDC::DrawRotatedText() (Artur Wieczorek).
+- Fix stretchable spacers in vertical toolbars (Artur Wieczorek).
 
 wxOSX/Cocoa:
 
diff --git a/src/msw/toolbar.cpp b/src/msw/toolbar.cpp
index 959672519b..9a94aed819 100644
--- a/src/msw/toolbar.cpp
+++ b/src/msw/toolbar.cpp
@@ -1254,19 +1254,34 @@ bool wxToolBar::Realize()
     InvalidateBestSize();
     UpdateSize();
 
+    if ( IsVertical() )
+    {
+        // For vertical toolbar heights of buttons are incorrect
+        // unless TB_AUTOSIZE in invoked.
+        // We need to recalculate fixed elements size again.
+        m_totalFixedSize = 0;
+        toolIndex = 0;
+        for ( node = m_tools.GetFirst(); node; node = node->GetNext(), toolIndex++ )
+        {
+            wxToolBarTool * const tool = (wxToolBarTool*)node->GetData();
+            if ( !tool->IsStretchableSpace() )
+            {
+                const RECT r = wxGetTBItemRect(GetHwnd(), toolIndex);
+                if ( !IsVertical() )
+                    m_totalFixedSize += r.right - r.left;
+                else if ( !tool->IsControl() )
+                    m_totalFixedSize += r.bottom - r.top;
+            }
+        }
+        // Enforce invoking UpdateStretchableSpacersSize() with correct value of fixed elements size.
+        UpdateSize();
+    }
+
     return true;
 }
 
 void wxToolBar::UpdateStretchableSpacersSize()
 {
-#ifdef TB_SETBUTTONINFO
-    // we can't resize the spacers if TB_SETBUTTONINFO is not supported (we
-    // could try to do it with multiple separators as for the controls but this
-    // is too painful and it just doesn't seem to be worth doing for the
-    // ancient systems)
-    if ( wxApp::GetComCtl32Version() < 471 )
-        return;
-
     // check if we have any stretchable spacers in the first place
     unsigned numSpaces = 0;
     wxToolBarToolsList::compatibility_iterator node;
@@ -1314,23 +1329,38 @@ void wxToolBar::UpdateStretchableSpacersSize()
 
         const RECT rcOld = wxGetTBItemRect(GetHwnd(), toolIndex);
 
-        WinStruct<TBBUTTONINFO> tbbi;
-        tbbi.dwMask = TBIF_SIZE;
-        tbbi.cx = --numSpaces ? sizeSpacer : sizeLastSpacer;
+        const int oldSize = IsVertical()? (rcOld.bottom - rcOld.top): (rcOld.right - rcOld.left);
+        const int newSize = --numSpaces ? sizeSpacer : sizeLastSpacer;
+        if ( newSize != oldSize)
+        {
+            if ( !::SendMessage(GetHwnd(), TB_DELETEBUTTON, toolIndex, 0) )
+            {
+                wxLogLastError(wxT("TB_DELETEBUTTON (separator)"));
+            }
+            else
+            {
+                TBBUTTON button;
+                wxZeroMemory(button);
 
-        if ( !::SendMessage(GetHwnd(), TB_SETBUTTONINFO,
-                            tool->GetId(), (LPARAM)&tbbi) )
-        {
-            wxLogLastError(wxT("TB_SETBUTTONINFO"));
-        }
-        else
-        {
-            // we successfully resized this one, move all the controls after it
-            // by the corresponding amount (may be positive or negative)
-            offset += tbbi.cx - (rcOld.right - rcOld.left);
+                button.idCommand = tool->GetId();
+                button.iBitmap = newSize; // set separator width/height
+                button.fsState = TBSTATE_ENABLED;
+                button.fsStyle = TBSTYLE_SEP;
+                if ( IsVertical() )
+                    button.fsState |= TBSTATE_WRAP;
+                if ( !::SendMessage(GetHwnd(), TB_INSERTBUTTON, toolIndex, (LPARAM)&button) )
+                {
+                    wxLogLastError(wxT("TB_INSERTBUTTON (separator)"));
+                }
+                else
+                {
+                    // We successfully replaced this seprator, move all the controls after it
+                    // by the corresponding amount (may be positive or negative)
+                    offset += newSize - oldSize;
+                }
+            }
         }
     }
-#endif // TB_SETBUTTONINFO
 }
 
 // ----------------------------------------------------------------------------
@@ -1843,6 +1873,11 @@ bool wxToolBar::HandlePaint(WXWPARAM wParam, WXLPARAM lParam)
                     rcItem.bottom = rectTotal.height;
                 }
 
+                // Apparently, regions of height < 3 are not taken into account
+                // in clipping so we need to extend them for this purpose.
+                if ( rcItem.bottom - rcItem.top > 0 && rcItem.bottom - rcItem.top < 3 )
+                    rcItem.bottom = rcItem.top + 3;
+
                 rgnDummySeps.Union(wxRectFromRECT(rcItem));
             }
         }