Wells Fargo & Company Declares Cash Dividends on Preferred Stock

Rhea-AI Summary

Wells Fargo (NYSE: WFC) has announced dividend payments for six series of preferred stock. The dividends will be paid on December 16, 2024, to holders of record as of November 29, 2024. The dividends include: Series L at $18.75 per share (7.50%), Series Y at $351.56 per share (5.625%), Series Z at $296.88 per share (4.75%), Series AA at $293.75 per share (4.70%), Series CC at $273.44 per share (4.375%), and Series DD at $265.63 per share (4.25%). Wells Fargo currently manages approximately $1.9 trillion in assets across its banking, investment, and mortgage services divisions.

Positive

• Regular dividend payments demonstrate financial stability
• Substantial asset base of $1.9 trillion indicates strong market position
• Diversified revenue streams across multiple banking segments

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company (NYSE: WFC) today announced dividends on six 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. 16, 2024, to holders of record as of the close of business on Nov. 29, 2024.

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. 16, 2024, to holders of record as of the close of business on Nov. 29, 2024.

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. 16, 2024, to holders of record as of the close of business on Nov. 29, 2024.

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. 16, 2024, to holders of record as of the close of business on Nov. 29, 2024.

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. 16, 2024, to holders of record as of the close of business on Nov. 29, 2024.

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. 16, 2024, to holders of record as of the close of business on Nov. 29, 2024.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. 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. 34 on Fortune’s 2024 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.

Additional information may be found at www.wellsfargo.com
LinkedIn: https://www.linkedin.com/company/wellsfargo

News Release Category: WF-CF

View source version on businesswire.com: https://www.businesswire.com/news/home/20241115857817/en/

Contact Information

Media

Beth Richek, 980-308-1568

Beth.Richek@wellsfargo.com

Investor Relations

Tanya Quinn, 415-396-7495

tanya.quinn@wellsfargo.com

Source: Wells Fargo & Company

FAQ

When will Wells Fargo (WFC) pay its preferred stock dividends in December 2024?

Wells Fargo will pay the preferred stock dividends on December 16, 2024, to shareholders of record as of November 29, 2024.

What is the dividend amount for Wells Fargo's (WFC) Series L preferred stock?

Wells Fargo's Series L preferred stock will pay a quarterly cash dividend of $18.75 per share, representing a 7.50% yield.

How many preferred stock series are included in Wells Fargo's (WFC) latest dividend declaration?

Wells Fargo declared dividends on six series of preferred stock: Series L, Y, Z, AA, CC, and DD.

What is Wells Fargo's (WFC) current asset size according to the announcement?

Wells Fargo has approximately $1.9 trillion in assets under management.