On 2/27/18, Wells Fargo & Co.'s Non-Cumulative Perpetual Class A Preferred Stock, Series N (WFC.PRN) will trade ex-dividend, for its quarterly dividend of $0.325, payable on 3/15/18. As a percentage of WFC.PRN's recent share price of $24.47, this dividend works out to approximately 1.33%, so look for shares of WFC.PRN to trade 1.33% lower — all else being equal — when WFC.PRN shares open for trading on 2/27/18. On an annualized basis, the current yield is approximately 5.34%, which compares to an average yield of 5.60% in the "Financial" preferred stock category, according to Preferred Stock Channel.

START SLIDESHOW:
Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »

As of last close, WFC.PRN was trading at a 2.56% discount to its liquidation preference amount, versus the average premium of 4.02% 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.PRN shares, versus WFC:

Performance Comparison Chart

Below is a dividend history chart for WFC.PRN, showing historical dividends prior to the most recent $0.325 on Wells Fargo & Co.'s Non-Cumulative Perpetual Class A Preferred Stock, Series N :

WFC.PRN+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Wells Fargo & Co. (WFC) makes up 8.01% of the iShares U.S. Financial Services ETF (IYG) which is trading relatively unchanged on the day Friday.

In Friday trading, Wells Fargo & Co.'s Non-Cumulative Perpetual Class A Preferred Stock, Series N (WFC.PRN) is currently up about 0.5% on the day, while the common shares (WFC) are trading flat.

More from Stocks

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

Fornite Funko Pop Toys Will Be Huge: CEO

Fornite Funko Pop Toys Will Be Huge: CEO

How This Former VC Player Became CEO of $2 Billion Cannabis Company Tilray

How This Former VC Player Became CEO of $2 Billion Cannabis Company Tilray

Don't Panic! The Risk of a Recession This Year Is Low

Don't Panic! The Risk of a Recession This Year Is Low

Stocks End Close to Home

Stocks End Close to Home