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

In trading on Wednesday, shares of Wells Fargo & Co's 4.70% Dep Shares Non-Cumul Class A Preferred Stock Series AA (Symbol: WFC.PRA) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.175), with shares changing hands as low as $19.42 on the day. This compares to an average yield of 7.07% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFC.PRA was trading at a 21.36% discount to its liquidation preference amount, versus the average discount of 14.06% 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.



Below is a dividend history chart for WFC.PRA, showing historical dividend payments on Wells Fargo & Co's 4.70% Dep Shares Non-Cumul Class A Preferred Stock Series AA:



In Wednesday trading, Wells Fargo & Co's 4.70% Dep Shares Non-Cumul Class A Preferred Stock Series AA (Symbol: WFC.PRA) is currently up about 0.3% on the day, while the common shares (Symbol: WFC) are up about 1.6%.

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Also see: • Top Ten Hedge Funds Holding B
• Institutional Holders of HWCC
• RSSS shares outstanding history


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