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| Wells Fargo's Preferred Stock, Series O Shares Cross 5% Yield MarkBy Preferred Stock Channel Staff, Wednesday, May 12, 2:24 PM ET
In trading on Wednesday, shares of Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series O (WFC.PRO) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.2812), with shares changing hands as low as $25.53 on the day. This compares to an average yield of 5.36% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFC.PRO was trading at a 2.84% premium to its liquidation preference amount, versus the average premium of 5.68% 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.PRO shares, versus WFC:
Below is a dividend history chart for WFC.PRO, showing historical dividend payments on Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series O :
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Wednesday trading, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series O (WFC.PRO) is currently off about 0.5% on the day, while the common shares (NYSE:WFC) are up about 1.4%.
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