Wells Fargo Preferred Stock, Series Y Shares Exceed 6% Yield
In Thursday’s trading, shares of Wells Fargo & Co’s Non-Cumulative Perpetual Class A Preferred Stock, Series Y (symbol: WFC.PRY) yielded above the 6% mark based on a quarterly dividend ($1.4062 annualized) . The lowest price of the day is $23.26. This compares to an average yield of 6.23% for the “financial” preferred stock category. Preferred stock channelAt the time of the last close, WFC.PRY was trading at a 5.12% discount to the liquidation priority, against an average discount rate of 7.40% for the ‘financials’ category. Investors should keep in mind that stocks are not. CumulativeThis means that in the event of a delinquent payment, the company does not have to pay the preferred shareholders the balance of the outstanding dividends before resuming the regular dividend.
Below is the dividend history chart for WFC.PRY, showing historical dividend payouts for Wells Fargo & Co Non-Cumulative Perpetual Class A Preferred Stock, Series Y.
In Thursday’s trading, Wells Fargo & Co’s Non-Cumulative Perpetual Class A Preferred Stock, Series Y (Symbol: WFC.PRY) is currently at approximately 1.6% off today and its common stock (Symbol: WFC) is currently at approximately 2.3% off. . .
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https://www.nasdaq.com/articles/wells-fargos-preferred-stock-series-y-shares-cross-6-yield-mark-1 Wells Fargo Preferred Stock, Series Y Shares Exceed 6% Yield