Wells Fargo's Preferred Stock, Series W Yield Pushes Past 6%
In trading on Monday, shares of Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series W (Symbol: WFC.PRW) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.425), with shares changing hands as low as $23.50 on the day. This compares to an average yield of 5.72% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, WFC.PRW was trading at a 4.20% discount to its liquidation preference amount. 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.PRW, showing historical dividend payments on Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series W:
In Monday trading, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series W (Symbol: WFC.PRW) is currently off about 0.7% on the day, while the common shares (Symbol: WFC) are trading flat.