Cash Dividend On The Way From Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series V

On 8/28/20, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series V (Symbol: WFC.PRV) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 9/15/20. As a percentage of WFC.PRV's recent share price of $25.75, this dividend works out to approximately 1.46%, so look for shares of WFC.PRV to trade 1.46% lower — all else being equal — when WFC.PRV shares open for trading on 8/28/20. On an annualized basis, the current yield is approximately 5.83%, which compares to an average yield of 5.48% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of WFC.PRV shares, versus WFC:

Below is a dividend history chart for WFC.PRV, showing historical dividends prior to the most recent $0.375 on Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series V:

In Wednesday trading, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series V (Symbol: WFC.PRV) is currently up about 0.1% on the day, while the common shares (Symbol: WFC) are trading flat.

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