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Wells Fargo's Preferred Stock, Series Y Shares Cross 6% Yield Mark

By Preferred Stock Channel Staff, Monday, November 28, 2:13 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 6% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $23.31 on the day. This compares to an average yield of 6.08% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFC.PRY was trading at a 5.88% discount to its liquidation preference amount, versus the average discount of 9.63% 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:

Performance Comparison Chart

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:


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In Monday trading, Wells Fargo & Co's Non-Cumulative Perpetual Class A Preferred Stock, Series Y (NYSE:WFC.PRY) is currently down about 0.6% on the day, while the common shares (NYSE:WFC) are off about 0.8%.


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