Wells Fargo & Company Declares Cash Dividends on Preferred Stock

Rhea-AI Summary

Wells Fargo (NYSE: WFC) has declared dividends on 10 series of preferred stock, payable on June 15, 2021. Significant dividends include:

• Series L: $18.75/share
• Series N: $325/share
• Series O: $320.31/share
• Series Q: $365.63/share
• Series R: $414.06/share

Each dividend will be paid to holders of record by May 28, 2021. This demonstrates the company’s commitment to returning value to shareholders amidst its diverse financial services portfolio.

Positive

• Significant dividends declared on multiple series, indicating strong cash flow.
• Demonstrates commitment to returning value to shareholders.

Negative

• None.

Wells Fargo & Company (NYSE: WFC) today announced dividends on 10 series of preferred stock.

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 June 15, 2021, to holders of record as of the close of business on May 28, 2021.

A quarterly cash dividend of $325.00 per share was declared on its 5.20% noncumulative perpetual class A preferred stock, Series N, liquidation preference $25,000 per share. This dividend equals $0.325 per depositary share, each representing a 1/1,000 interest in a share of Series N preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrN”. The Series N dividend is payable on June 15, 2021, to holders of record as of the close of business on May 28, 2021.

A quarterly cash dividend of $320.31 per share was declared on its 5.125% noncumulative perpetual class A preferred stock, Series O, liquidation preference $25,000 per share. This dividend equals $0.32031 per depositary share, each representing a 1/1,000 interest in a share of Series O preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrO”. The Series O dividend is payable on June 15, 2021, to holders of record as of the close of business on May 28, 2021.

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 June 15, 2021, to holders of record as of the close of business on May 28, 2021.

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 June 15, 2021, to holders of record as of the close of business on May 28, 2021.

A quarterly cash dividend of $343.75 per share was declared on its 5.50% noncumulative perpetual class A preferred stock, Series X, liquidation preference $25,000 per share. This dividend equals $0.34375 per depositary share, each representing a 1/1,000 interest in a share of Series X preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrX”. The Series X dividend is payable on June 15, 2021, to holders of record as of the close of business on May 28, 2021.

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 June 15, 2021, to holders of record as of the close of business on May 28, 2021.

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 June 15, 2021, to holders of record as of the close of business on May 28, 2021.

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 June 15, 2021, to holders of record as of the close of business on May 28, 2021.

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 June 15, 2021, to holders of record as of the close of business on May 28, 2021.

About Wells Fargo

Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies 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. 30 on Fortune’s 2020 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 Release Category: WF-CF

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FAQ

When will Wells Fargo pay its preferred stock dividends?

Wells Fargo will pay its preferred stock dividends on June 15, 2021.

What is the dividend amount for Wells Fargo's Series N preferred stock?

The dividend amount for Series N is $325.00 per share.

What is the record date for Wells Fargo's preferred stock dividends?

The record date for Wells Fargo's preferred stock dividends is May 28, 2021.

What ticker symbols are associated with Wells Fargo's preferred stocks?

The ticker symbols are: WFCPrL, WFCPrN, WFCPrO, WFCPrQ, WFCPrR, WFCPrX, WFCPrY, WFCPrZ, WFCPrA, and WFCPrC.

How often does Wells Fargo pay dividends on its preferred stock?

Wells Fargo pays dividends on its preferred stock quarterly.