Wells Fargo's Preferred Stock, Series X Crosses Above 5.5% Yield Territory

By Preferred Stock Channel Staff, Monday, April 19, 2:59 PM ET

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In trading on Monday, shares of Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series X (WFC.PRX) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.375), with shares changing hands as low as $24.95 on the day. This compares to an average yield of 5.30% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFC.PRX was trading at a 3.32% premium to its liquidation preference amount, versus the average premium of 6.50% 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.PRX shares, versus WFC:

Performance Comparison Chart

Below is a dividend history chart for WFC.PRX, showing historical dividend payments on Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series X:

Free Report: Top 7%+ Dividends (paid monthly)

In Monday trading, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series X (WFC.PRX) is currently off about 0.1% on the day, while the common shares (NYSE:WFC) are up about 0.5%.

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Wells Fargo's Preferred Stock, Series X Crosses Above 5.5% Yield Territory

Wells Fargo's Preferred Stock, Series X Crosses Above 5.5% Yield Territory | www.PreferredStockChannel.com