On 6/13/17, Wells Fargo & Co.'s 6.375% Cumulative Perpetual Preferred Stock, Series A (Symbol: WFE.PRA) will trade ex-dividend, for its quarterly dividend of $0.3984, payable on 6/30/17. As a percentage of WFE.PRA's recent share price of $27.24, this dividend works out to approximately 1.46%, so look for shares of WFE.PRA to trade 1.46% lower - all else being equal - when WFE.PRA shares open for trading on 6/13/17. On an annualized basis, the current yield is approximately 5.84%, which compares to an average yield of 5.64% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of WFE.PRA shares, versus WFC:
Below is a dividend history chart for WFE.PRA, showing historical dividends prior to the most recent $0.3984 on Wells Fargo & Co.'s 6.375% Cumulative Perpetual Preferred Stock, Series A:
According to the ETF Finder at ETF Channel, Wells Fargo & Co. (Symbol: WFC) makes up 9.13% of the iShares U.S. Financial Services ETF ( IYG ) which is trading up by about 1.6% on the day Friday.
In Friday trading, Wells Fargo & Co.'s 6.375% Cumulative Perpetual Preferred Stock, Series A (Symbol: WFE.PRA) is currently down about 0.3% on the day, while the common shares (Symbol: WFC) are up about 2.1%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
