Cash Dividend On The Way From Wells Fargo Non-Cumulative Perpetual Class A Preferred Stock, Series J

On 11/26/13, Wells Fargo & Co.’s 8.00% Non-Cumulative Perpetual Class A Preferred Stock, Series J (NYSE: WFC.PRJ) will trade ex-dividend, for its quarterly dividend of $0.50, payable on 12/16/13. As a percentage of WFC.PRJ’s recent share price of $28.64, this dividend works out to approximately 1.75%, so look for shares of WFC.PRJ to trade 1.75% lower ? all else being equal ? when WFC.PRJ shares open for trading on 11/26/13. On an annualized basis, the current yield is approximately 7.00%, which compares to an average yield of 5.95% in the “Financial” preferred stock category, according to Preferred Stock Channel.
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http://www.forbes.com/sites/dividendchannel/2013/11/22/cash-dividend-on-the-way-from-wells-fargo-non-cumulative-perpetual-class-a-preferred-stock-series-j/