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Wells Fargo's Preferred Stock, Series W Shares Cross 5.5% Yield Mark

In trading on Wednesday, shares of Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series W (Symbol: WFC.PRW) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.425), with shares changing hands as low as $25.73 on the day. This compares to an average yield of 5.22% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFC.PRW was trading at a 4.24% premium to its liquidation preference amount, versus the average premium of 6.80% 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.PRW shares, versus WFC:

Performance Comparison Chart

Below is a dividend history chart for WFC.PRW, showing historical dividend payments on Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series W:

WFC.PRW+Dividend+History+Chart

In Wednesday trading, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series W (Symbol: WFC.PRW) is currently up about 0.4% on the day, while the common shares (Symbol: WFC) are up about 0.9%.

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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