On 2/26/14, Wells Fargo & Co.'s 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L (WFC.PRL) will trade ex-dividend, for its quarterly dividend of $18.75, payable on 3/17/14. As a percentage of WFC.PRL's recent share price of $1180.00, this dividend works out to approximately 1.59%, so look for shares of WFC.PRL to trade 1.59% lower — all else being equal — when WFC.PRL shares open for trading on 2/26/14. On an annualized basis, the current yield is approximately 6.37%, which compares to an average yield of 5.76% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Wells Fargo & Co.'s Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L Goes Ex-Dividend Soon
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts