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Wells Fargo's Preferred Stock, Series Q Crosses Above 5.5% Yield Territory

By Ru Back Packer Staff, Thursday, January 18, 2:51 PM ET
Play Video: The Importance of Dividends


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In trading on Thursday, shares of Wells Fargo & Co.'s 5.85% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series Q (NYSE:WFC.PRQ) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.4625), with shares changing hands as low as $26.50 on the day. This compares to an average yield of 5.64% in the "Financial" preferred stock category, according to Ru Back Packer. As of last close, WFC.PRQ was trading at a 6.84% premium to its liquidation preference amount, versus the average premium of 4.96% 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.PRQ shares, versus WFC:

Performance Comparison Chart

Below is a dividend history chart for WFC.PRQ, showing historical dividend payments on Wells Fargo & Co.'s 5.85% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series Q :


In Thursday trading, Wells Fargo & Co.'s 5.85% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series Q (NYSE:WFC.PRQ) is currently off about 0.7% on the day, while the common shares (NYSE:WFC) are up about 0.2%.


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