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Wells Fargo's Preferred Stock, Series W Yield Pushes Past 5.5%

Shutterstock photo
Shutterstock photo

Shutterstock photo

In trading on Tuesday, 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 $25.71 on the day. As of last close, WFC.PRW was trading at a 3.96% premium to its liquidation preference amount, versus the average premium of 6.48% 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 Tuesday trading, Wells Fargo & Co.'s Non-Cumulative Perpetual Class A Preferred Stock, Series W (Symbol: WFC.PRW) is currently down about 1.1% on the day, while the common shares (Symbol: WFC) are up about 0.4%.

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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