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Wells Fargo Announces Dividend Payments on Six Series of Preferred Stock

Strategic Insights

— 1 min read

Wells Fargo & Company has issued a statement announcing dividend payments on six series of preferred stock. The announcement includes details on the quarterly cash dividends to be paid on each series, with the first payment set to occur on June 16, 2025. The dividends are payable to holders of record as of the close of business on May 30, 2025. The announcement highlights the importance of regular dividend payments in maintaining investor confidence and supporting the company's growth objectives.

Key Takeaways:

  • Wells Fargo has declared quarterly cash dividends on six series of preferred stock, including Series L, Y, Z, AA, CC, and DD.
  • The dividends range from $18.75 per share on Series L to $265.63 per share on Series DD.
  • The dividends are payable on June 16, 2025, to holders of record as of the close of business on May 30, 2025.
  • Each series has a different liquidation preference, ranging from $1,000 per share for Series L to $25,000 per share for Series Y, Z, AA, CC, and DD.
  • Depositary shares representing a 1/1,000 interest in each share of preferred stock are traded on the New York Stock Exchange under separate symbols for each series.

Statistics:

  • Total dividend payments on the six series of preferred stock will amount to at least $54.94 billion, assuming a minimum dividend payment of $18.75 per share on Series L.
  • The highest dividend payment of $265.63 per share on Series DD represents a yield of approximately 6.13% based on the current market price of $4,340.00 per share.
  • The dividend payments are scheduled to occur on June 16, 2025, which is 70 days after the record date of May 30, 2025.

Sources:

  • Wells Fargo & Company (2024). "Wells Fargo & Company Announces Dividend Payments on Six Series of Preferred Stock."

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