Wells Fargo's Preferred Stock, Series R Crosses Above 6% Yield Territory

By Preferred Stock Channel Staff, Tuesday, January 4, 2:24 PM ET

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In trading on Tuesday, shares of Wells Fargo & Co's 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R (NYSE:WFC.PRR) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.6562), with shares changing hands as low as $27.48 on the day. This compares to an average yield of 5.24% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFC.PRR was trading at a 11.04% premium to its liquidation preference amount, versus the average premium of 6.49% 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.PRR shares, versus WFC:

Performance Comparison Chart

Below is a dividend history chart for WFC.PRR, showing historical dividend payments on Wells Fargo & Co's 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R :

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

In Tuesday trading, Wells Fargo & Co's 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R (NYSE:WFC.PRR) is currently down about 0.9% on the day, while the common shares (NYSE:WFC) are up about 4%.

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Wells Fargo's Preferred Stock, Series R Crosses Above 6% Yield Territory

Wells Fargo's Preferred Stock, Series R Crosses Above 6% Yield Territory | www.PreferredStockChannel.com