Dividends on the Series J Preferred Stock will be payable quarterly in arrears, when, as and if declared by our board of directors, at a rate per annum equal to 8.00%. The Dividend Payment Dates will be the 15th day of each March, June, September and December, commencing on March 15, 2008.
Dividends on the Series J Preferred Stock will be non-cumulative. If for any reason our board of directors does not declare a dividend on the Series J Preferred Stock for a Dividend Period, we will have no obligation to pay any dividend for that period, whether or not our board of directors declares dividends on the Series J Preferred Stock for any subsequent Dividend Period. However, with certain exceptions, if we have not declared dividends on the Series J Preferred Stock for a particular Dividend Period, we may not declare or pay dividends on or redeem or purchase our common stock or other junior securities during the next succeeding Dividend Period.
We may not redeem the Series J Preferred Stock prior to December 15, 2017. On any Dividend Payment Date on or after that date, we may, at our option, redeem the Series J Preferred Stock in whole or in part, at a price of $1,000 per share (equivalent to $25 per Depositary Share) plus any declared and unpaid dividends. The Series J Preferred Stock has no stated maturity, is not subject to any sinking fund and will remain outstanding indefinitely unless redeemed. The Series J Preferred Stock will not have any voting rights except as described under ÙDescription of the Series J Preferred Stock-Voting Rightsˆ on page S-8. A holder of Depositary Shares will be entitled to direct the depositary how to vote in such circumstances.
Full Prospectus PDF », Secondary Prospectus PDF », WFC Page »
|
Wells Fargo & Company is a financial holding company and a bank holding company. Through its subsidiaries, Co. provides banking, investment and mortgage products and services, as well as consumer and commercial finance. Co. provides consumer financial products and services including checking and savings accounts, credit and debit cards, and auto, mortgage and home equity, and small business lending, as well as financial planning, private banking, investment management, and fiduciary services. Co. also provides financial solutions including commercial loans and lines of credit, letters of credit, asset-based lending, trade financing, treasury management, and investment banking services. Preferreds: WNA.PR, WFC.PRJ, WFC.PRL, WFC.PRN, WFC.PRO, WFC.PRP, WFC.PRQ, WFC.PRR, WFC.PRT, WFE.PRA, WFC.PRV, WFC.PRW, WFC.PRX, WFC.PRY, WFC.PRZ, WFC.PRA, WFC.PRC, WFC.PRD Open the WFC Information Page » |
|
|
Free Email Alerts: Get Dividend Alerts Get SEC Filing Alerts |
|