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| Wells Fargo's Preferred Stock, Series Y Shares Cross 3% Yield MarkBy Preferred Stock Channel Staff, Monday, March 8, 2:51 PM ET
In trading on Monday, shares of Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series Y (NYSE:WFC.PRY) were yielding above the 3% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $25.81 on the day. This compares to an average yield of 5.45% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFC.PRY was trading at a 3.52% premium to its liquidation preference amount, versus the average premium of 4.30% 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. The chart below shows the one year performance of WFC.PRY shares, versus WFC:
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:
Free Report: Top 7%+ Dividends (paid monthly) In Monday trading, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series Y (NYSE:WFC.PRY) is currently off about 0.1% on the day, while the common shares (NYSE:WFC) are up about 2.8%.
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