Wells Fargo Declares Dividends On Six Series Of Preferred Stock: Details

Wells Fargo & Company WFC shares are trading mostly flat on Friday.

According to Benzinga Pro, WFC stock has gained 71% in the past year. Investors can gain exposure to the stock via Invesco KBW Bank ETF KBWB and First Trust Nasdaq Bank ETF FTXO.

Recently, the stock has seen marked strength following Donald Trump’s presidential election win, as investors anticipate that his administration’s economic policies could create a favorable climate for major banks.

Trump’s tax agenda, which includes potential expansions to the 2017 Tax Cuts and Jobs Act, could lower corporate tax rates further, directly boosting Wells Fargo’s earnings.

Today, Wells Fargo declared quarterly dividends on several of its preferred stock series, payable on December 16, 2024.

The company declared a quarterly dividend of $18.75 per share on its 7.50% noncumulative perpetual convertible Class A preferred stock, Series L. The stock has a liquidation preference of $1,000 per share. It trades on the New York Stock Exchange under the symbol “WFCPrL”. The dividend will be paid on December 16, 2024.

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For Series Y, the dividend is $0.35156 per depositary share, with a liquidation preference of $25,000 per share.

For Series Z, the dividend is $0.29688 per depositary share, with a liquidation preference of $25,000 per share.

For Series AA, the dividend is $0.29375 per depositary share, with a liquidation preference of $25,000 per share.

For Series CC, the dividend is $0.27344 per depositary share, and for Series DD, it’s $0.26563 per depositary share, both with a liquidation preference of $25,000 per share.

Wells Fargo said shareholders must be on record by the close of business on November 29, 2024, to qualify for the dividend.

Price Action: WFC shares are trading higher by 0.81% to $73.39 at last check Friday.

Image via Shutterstock

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