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| Wells Fargo's Preferred Stock Series DD Crosses Above 5.5% Yield TerritoryBy Preferred Stock Channel Staff, Monday, April 1, 3:50 PM ET
In trading on Monday, shares of Wells Fargo & Co's 4.25% Dep Shares Non-Cumul Perp Cls A Preferred Stock Series DD (NYSE:WFC.PRD) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.0625), with shares changing hands as low as $19.20 on the day. This compares to an average yield of 6.67% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFC.PRD was trading at a 22.04% discount to its liquidation preference amount, versus the average discount of 9.31% 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.PRD shares, versus WFC:
Below is a dividend history chart for WFC.PRD, showing historical dividend payments on Wells Fargo & Co's 4.25% Dep Shares Non-Cumul Perp Cls A Preferred Stock Series DD:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Monday trading, Wells Fargo & Co's 4.25% Dep Shares Non-Cumul Perp Cls A Preferred Stock Series DD (NYSE:WFC.PRD) is currently off about 0.7% on the day, while the common shares (NYSE:WFC) are down about 0.9%.
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