Cash Dividend On The Way From Wells Fargo Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L

On 2/28/25, Wells Fargo & Co's 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L (Symbol: WFC.PRL) will trade ex-dividend, for its quarterly dividend of $18.75, payable on 3/17/25. As a percentage of WFC.PRL's recent share price of $1236.25, this dividend works out to approximately 1.52%, so look for shares of WFC.PRL to trade 1.52% lower — all else being equal — when WFC.PRL shares open for trading on 2/28/25. On an annualized basis, the current yield is approximately 6.07%, which compares to an average yield of 7.26% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of WFC.PRL shares, versus WFC:

Below is a dividend history chart for WFC.PRL, showing historical dividends prior to the most recent $18.75 on Wells Fargo & Co's 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L:

In Wednesday trading, Wells Fargo & Co's 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L (Symbol: WFC.PRL) is currently up about 0.4% on the day, while the common shares (Symbol: WFC) are up about 1.4%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.