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Wells Fargo's Preferred Stock, Series V Shares Cross 6% Yield Mark

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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.

Performance Comparison Chart

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:

WFC.PRV+Dividend+History+Chart

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%.

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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.

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