Wells Fargo Co Stock Price, News & Analysis

Wells Fargo (NYSE: WFC) announced the redemption of 25,000 shares of its Series P Preferred Stock and 40,000 shares of its Series W Preferred Stock, effective March 15, 2021. The redemption price is set at $25,000 per Series P Preferred Share and $25.00 per Series W Preferred Share. This action follows regular quarterly dividend payments on the same date, which will be made to the holders of record as of February 26, 2021. All regulatory requirements for these redemptions have been satisfied, with Equiniti Trust Company acting as the redemption agent.

Wells Fargo announced a redemption of 16,000 shares of its Non-Cumulative Perpetual Class A Preferred Stock, Series N, effective March 15, 2021. This action will also redeem 16,000,000 related depositary shares. The redemption price is set at $25,000.00 per Preferred Share and $25.00 per Depositary Share. After this transaction, 14,000 Preferred Shares and 14,000,000 Depositary Shares will remain outstanding. The redemption coincides with a scheduled dividend payment. Equiniti Trust Company will act as the redemption agent.

Wells Fargo (NYSE: WFC) has declared dividends on 12 series of preferred stock, effective March 15, 2021. Key dividends include $18.75 per share for Series L, $325.00 for Series N, and $320.31 for Series O. The dividends are payable to holders of record as of February 26, 2021. Wells Fargo continues to manage approximately $1.9 trillion in assets and provides a broad range of financial services to U.S. households and businesses.

Wells Fargo has announced investments totaling up to $50 million in six African American Minority Depository Institutions (MDIs). This initiative is part of a broader pledge made on March 10, 2020, to enhance financial access and support economic recovery in communities of color affected by the pandemic. The selected banks will receive financial and technological support from Wells Fargo, aimed at strengthening their lending capacity and community impact. This investment emphasizes Wells Fargo's commitment to fostering economic revitalization and job opportunities in minority communities.

Ameresco (NYSE: AMRC) and Wells Fargo (NYSE: WFC) have announced a collaboration to develop approximately 30 megawatts (MW) of onsite solar generation assets across seven states. This project includes nearly 100 solar photovoltaic arrays at various locations, with construction starting in April and continuing into 2022. As part of its sustainability efforts, Wells Fargo has been using renewable energy for all its global electricity needs since 2017. The initiative is expected to bolster local job creation and tax revenue, while Ameresco's expertise made it the preferred partner for this extensive project.

The Wells Fargo Utilities and High Income Fund (ERH) has issued a Notice detailing the sources of its monthly distributions to shareholders. The Fund has reportedly distributed more than its income and net realized capital gains, indicating a portion of the distribution may be a return of capital. Shareholders are cautioned that return of capital does not reflect the Fund's investment performance. Distributions are sourced from net investment income, short-term and long-term capital gains, and paid-in capital, with tax reporting dependent on the Fund's investment experience.

Wells Fargo & Company (NYSE: WFC) has initiated cash tender offers to purchase up to $4.5 billion in aggregate principal amount of 11 series of its securities. This move is executed by Wells Fargo Securities, an indirect subsidiary of the company.

The offers aim to optimize the company’s capital structure and improve liquidity. The securities eligible for purchase include various notes due between 2021 and 2023, with specific amounts set for each series.

Wells Fargo & Company (NYSE: WFC) has declared a quarterly dividend of $0.10 per share, scheduled for payment on March 1, 2021. This dividend applies to shareholders on record as of February 5, 2021. The company has approximately 4.1 billion shares outstanding. Wells Fargo, with about $1.9 trillion in assets, serves one in three U.S. households, highlighting its significant footprint in the financial services sector.

Wells Fargo announced the final results of its cash tender offers for specific securities, which began on January 19, 2021, and concluded on January 25, 2021. The company accepted $440.68 million in securities, paying approximately $615.70 million, excluding accrued interest. Securities involved include the 5.375% Notes due February 7, 2035 and the 5.95% Capital Efficient Notes due December 15, 2086. An additional $135,000 remains subject to guaranteed delivery procedures. Payments for accepted securities are expected to be processed on January 26, 2021, or January 28, 2021, for guaranteed delivery.