In trading on Tuesday, shares of Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series Y (Symbol: WFC.PRY) were yielding above the 3% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $26.48 on the day. This compares to an average yield of 5.42% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFC.PRY was trading at a 6.16% premium to its liquidation preference amount, versus the average premium of 6.85% 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.PRY, showing historical dividend payments on Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series Y:
In Tuesday trading, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series Y (Symbol: WFC.PRY) is currently down about 0.1% on the day, while the common shares (Symbol: WFC) are off about 0.1%.
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