Wells Fargo's Preferred Stock, Series O Shares Cross 5% Yield Mark
In trading on Friday, shares of Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series O (Symbol: WFC.PRO) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.2812), with shares changing hands as low as $25.30 on the day. This compares to an average yield of 5.51% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFC.PRO was trading at a 2.88% premium to its liquidation preference amount, versus the average premium of 6.02% 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.
Below is a dividend history chart for WFC.PRO, showing historical dividend payments on Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series O :
In Friday trading, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series O (Symbol: WFC.PRO) is currently trading flat on the day, while the common shares (Symbol: WFC) are down about 0.1%.