Wells Fargo's Preferred Stock Series CC Sets New Yield Record with 6% Yield Mark

Wells Fargo's Preferred Stock Series CC shares have crossed the 6% yield mark due to its quarterly dividend of $1.0938. The shares have changed hands as low as $18.20, with an average yield of 6.52% in the "Financial" preferred stock category. The shares are trading at a 26.64% discount to their liquidation preference amount, compared to an average discount of 8.60% in the "Financial" category. The shares are non-cumulative, meaning that the company does not have to pay missed payments to preferred shareholders before resuming a common dividend.

Wells Fargo's Preferred Stock Series CC shares have recently crossed the 6% yield mark, drawing attention from investors. The quarterly dividend of $1.0938 has contributed to this yield, making the shares an attractive investment option. The shares have traded as low as $18.20, with an average yield of 6.52% within the "Financial" preferred stock category. This yield is particularly notable given that the shares are trading at a 26.64% discount to their liquidation preference amount, compared to an average discount of 8.60% in the "Financial" category. The non-cumulative nature of the shares means that missed payments do not accrue, providing investors with a clear understanding of the dividend structure.

The recent filing by Wells Fargo indicates that the company's Board of Directors has approved a stock repurchase program, authorizing the purchase of up to $40.00 billion in shares [1]. This move is often seen as a sign that the company's board believes its stock is undervalued. Additionally, Wells Fargo has announced a quarterly dividend increase to $0.45 per share, reflecting a positive $1.80 annualized payout with a yield of 2.3% [1].

Analysts have mixed ratings on Wells Fargo, with Raymond James downgrading from "strong-buy" to "market perform," while others maintain a "Moderate Buy" rating with an average target price of $81.58 [1]. Despite the mixed ratings, the preferred stock's high yield and the recent dividend increase make it an attractive investment for those seeking stable income from their portfolio.

References:
[1] https://www.marketbeat.com/instant-alerts/filing-wcg-wealth-advisors-llc-decreases-stock-holdings-in-wells-fargo-company-wfc-2025-08-25/