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Wells Fargo & Company Declares Cash Dividends on Preferred Stock
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Negative)
Tags
dividends
Rhea-AI Summary
Wells Fargo announced the declaration of dividends on eight series of preferred stock, enhancing shareholder returns. Key dividends include $18.75 for Series L, $365.63 for Series Q, and $414.06 for Series R, all payable on December 15, 2022, for shareholders on record by November 30, 2022. The company's total assets stand at approximately $1.9 trillion, serving one in three U.S. households.
Positive
Quarterly dividends declared across eight series of preferred stock, fostering investor confidence.
Substantial cash dividends ranging from $18.75 to $414.06 per share ensure returns for shareholders.
Negative
None.
SAN FRANCISCO--(BUSINESS WIRE)--
Wells Fargo & Company (NYSE: WFC) today announced dividends on eight series of preferred stock.
Wells Fargo Bank branch located in the Wells Fargo Center (Photo: Wells Fargo)
A quarterly cash dividend of $18.75 per share was declared on its 7.50% noncumulative perpetual convertible class A preferred stock, Series L, liquidation preference $1,000 per share, which is traded on the New York Stock Exchange under the symbol “WFCPrL”. The Series L dividend is payable on Dec. 15, 2022, to holders of record as of the close of business on Nov. 30, 2022.
A quarterly cash dividend of $365.63 per share was declared on its 5.85% fixed-to-floating noncumulative perpetual class A preferred stock, Series Q, liquidation preference $25,000 per share. This dividend equals $0.36563 per depositary share, each representing a 1/1,000 interest in a share of Series Q preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrQ”. The Series Q dividend is payable on Dec. 15, 2022, to holders of record as of the close of business on Nov. 30, 2022.
A quarterly cash dividend of $414.06 per share was declared on its 6.625% fixed-to-floating noncumulative perpetual class A preferred stock, Series R, liquidation preference $25,000 per share. This dividend equals $0.41406 per depositary share, each representing a 1/1,000 interest in a share of Series R preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrR”. The Series R dividend is payable on Dec. 15, 2022, to holders of record as of the close of business on Nov. 30, 2022.
A quarterly cash dividend of $351.56 per share was declared on its 5.625% noncumulative perpetual class A preferred stock, Series Y, liquidation preference $25,000 per share. This dividend equals $0.35156 per depositary share, each representing a 1/1,000 interest in a share of Series Y preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrY”. The Series Y dividend is payable on Dec. 15, 2022, to holders of record as of the close of business on Nov. 30, 2022.
A quarterly cash dividend of $296.88 per share was declared on its 4.75% noncumulative perpetual class A preferred stock, Series Z, liquidation preference $25,000 per share. This dividend equals $0.29688 per depositary share, each representing a 1/1,000 interest in a share of Series Z preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrZ”. The Series Z dividend is payable on Dec. 15, 2022, to holders of record as of the close of business on Nov. 30, 2022.
A quarterly cash dividend of $293.75 per share was declared on its 4.70% noncumulative perpetual class A preferred stock, Series AA, liquidation preference $25,000 per share. This dividend equals $0.29375 per depositary share, each representing a 1/1,000 interest in a share of Series AA preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrA”. The Series AA dividend is payable on Dec. 15, 2022, to holders of record as of the close of business on Nov. 30, 2022.
A quarterly cash dividend of $273.44 per share was declared on its 4.375% noncumulative perpetual class A preferred stock, Series CC, liquidation preference $25,000 per share. This dividend equals $0.27344 per depositary share, each representing a 1/1,000 interest in a share of Series CC preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrC”. The Series CC dividend is payable on Dec. 15, 2022, to holders of record as of the close of business on Nov. 30, 2022.
A quarterly cash dividend of $265.63 per share was declared on its 4.25% noncumulative perpetual class A preferred stock, Series DD, liquidation preference $25,000 per share. This dividend equals $0.26563 per depositary share, each representing a 1/1,000 interest in a share of Series DD preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrD”. The Series DD dividend is payable on Dec. 15, 2022, to holders of record as of the close of business on Nov. 30, 2022.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy.
News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
