In trading on Tuesday, shares of Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series V (Symbol: WFC.PRV) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.50), with shares changing hands as low as $24.91 on the day. This compares to an average yield of 5.97% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, WFC.PRV was trading at a 0.28% premium to its liquidation preference amount, versus the average discount of 1.30% 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.PRV, showing historical dividend payments on Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series V:
In Tuesday trading, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series V (Symbol: WFC.PRV) is currently down about 0.6% on the day, while the common shares (Symbol: WFC) are off about 4.7%.