Wells Fargo & Company Declares Cash Dividends on Preferred Stock

Rhea-AI Summary

Wells Fargo (NYSE: WFC) has declared dividends on 13 series of preferred stock, with notable payouts including $18.75 per share for Series L and $365.63 for Series Q, both payable on Dec. 15, 2020. Shareholders of record as of Nov. 30, 2020, will qualify for these dividends. The bank continues to support its investors through consistent dividend distributions, demonstrating its financial strength amidst market fluctuations.

Positive

• Consistent quarterly dividend payments across multiple preferred stock series
• Demonstrates financial stability with dividends ranging from $18.75 to $414.06 per share
• Reassures investors of ongoing income opportunities

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) today announced dividends on 13 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 Dec. 15, 2020, to holders of record as of the close of business on Nov. 30, 2020.

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 Dec. 15, 2020, to holders of record as of the close of business on Nov. 30, 2020.

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 Dec. 15, 2020, to holders of record as of the close of business on Nov. 30, 2020.

A quarterly cash dividend of $328.13 per share was declared on its 5.25% noncumulative perpetual class A preferred stock, Series P, liquidation preference $25,000 per share. This dividend equals $0.32813 per depositary share, each representing a 1/1,000 interest in a share of Series P preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrP”. The Series P dividend is payable on Dec. 15, 2020, to holders of record as of the close of business on Nov. 30, 2020.

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, 2020, to holders of record as of the close of business on Nov. 30, 2020.

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, 2020, to holders of record as of the close of business on Nov. 30, 2020.

A quarterly cash dividend of $375.00 per share was declared on its 6.00% noncumulative perpetual class A preferred stock, Series T, liquidation preference $25,000 per share. This dividend equals $0.375 per depositary share, each representing a 1/1,000 interest in a share of Series T preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrT”. The Series T dividend is payable on Dec. 15, 2020, to holders of record as of the close of business on Nov. 30, 2020.

A quarterly cash dividend of $375.00 per share was declared on its 6.00% noncumulative perpetual class A preferred stock, Series V, liquidation preference $25,000 per share. This dividend equals $0.375 per depositary share, each representing a 1/1,000 interest in a share of Series V preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrV”. The Series V dividend is payable on Dec. 15, 2020, to holders of record as of the close of business on Nov. 30, 2020.

A quarterly cash dividend of $356.25 per share was declared on its 5.70% noncumulative perpetual class A preferred stock, Series W, liquidation preference $25,000 per share. This dividend equals $0.35625 per depositary share, each representing a 1/1,000 interest in a share of Series W preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrW”. The Series W dividend is payable on Dec. 15, 2020, to holders of record as of the close of business on Nov. 30, 2020.

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 Dec. 15, 2020, to holders of record as of the close of business on Nov. 30, 2020.

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, 2020, to holders of record as of the close of business on Nov. 30, 2020.

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, 2020, to holders of record as of the close of business on Nov. 30, 2020.

A quarterly cash dividend of $153.40 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 $0.15340 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, 2020, to holders of record as of the close of business on Nov. 30, 2020.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.92 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment, and mortgage products and services, as well as consumer and commercial finance, through 7,200 locations, more than 13,000 ATMs, the internet (wellsfargo.com), and mobile banking, and has offices in 31 countries and territories to support customers who conduct business in the global economy. Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations.

News Release Category: WF-CF