In trading on Tuesday, Wells Fargo & Co’s 4.25% Dep Shares Non-Cumul Perp Cls A Preferred Stock Series DD (Symbol: WFC.PRD) yielded above 6.5%, with shares trading as low as $16.34. This yield compares to an average of 6.77% in the Financial preferred stock category. Notably, WFC.PRD is currently trading at a 34.40% discount to its liquidation preference amount, significantly higher than the average discount of 12.84% for the category.
As of the latest close, WFC.PRD shares were up approximately 0.3% for the day, while the common shares (Symbol: WFC) declined by about 0.4%. Investors should remain aware that these preferred shares are non-cumulative, meaning missed dividends do not need to be paid before resuming common dividends.
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