In trading on Wednesday, shares of Wells Fargo & Co.'s Non-Cumulative Perpetual Class A Preferred Stock, Series Y (Symbol: WFC.PRY) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $25.51 on the day. This compares to an average yield of 5.52% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, WFC.PRY was trading at a 2.84% premium to its liquidation preference amount, versus the average premium of 5.74% in the "Financial" category. Investors should keep in mind that the shares are not cumulative , meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.
The chart below shows the one year performance of WFC.PRY shares, versus WFC:
Below is a dividend history chart for WFC.PRY, showing historical dividend payments on Wells Fargo & Co.'s Non-Cumulative Perpetual Class A Preferred Stock, Series Y:
In Wednesday trading, Wells Fargo & Co.'s Non-Cumulative Perpetual Class A Preferred Stock, Series Y (Symbol: WFC.PRY) is currently trading flat on the day, while the common shares (Symbol: WFC) are up about 0.7%.