Wells Fargo & Company Declares Cash Dividends on Preferred Stock

Rhea-AI Summary

Wells Fargo announces dividends on preferred stock

Positive

• Wells Fargo announces quarterly cash dividends on multiple series of preferred stock. The dividends range from $18.75 per share to $414.06 per share.
• The dividends are payable on Sept. 15, 2023, to holders of record as of Aug. 31, 2023.

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company (NYSE: WFC) today announced dividends on eight series of preferred stock.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230818270877/en/

Wells Fargo (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 Sept. 15, 2023, to holders of record as of the close of business on Aug. 31, 2023.

A quarterly cash dividend of $365.63 per share was declared on its 5.85% fixed-to-floating noncumulative perpetual class A preferred stock, Series Q, liquidation preference $25,000 per share. This dividend equals $0.36563 per depositary share, each representing a 1/1,000 interest in a share of Series Q preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrQ”. The Series Q dividend is payable on Sept. 15, 2023, to holders of record as of the close of business on Aug. 31, 2023.

A quarterly cash dividend of $414.06 per share was declared on its 6.625% fixed-to-floating noncumulative perpetual class A preferred stock, Series R, liquidation preference $25,000 per share. This dividend equals $0.41406 per depositary share, each representing a 1/1,000 interest in a share of Series R preferred stock, which is traded on the New York Stock Exchange under the symbol “WFCPrR”. The Series R dividend is payable on Sept. 15, 2023, to holders of record as of the close of business on Aug. 31, 2023.

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 Sept. 15, 2023, to holders of record as of the close of business on Aug. 31, 2023.

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 Sept. 15, 2023, to holders of record as of the close of business on Aug. 31, 2023.

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 Sept. 15, 2023, to holders of record as of the close of business on Aug. 31, 2023.

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 Sept. 15, 2023, to holders of record as of the close of business on Aug. 31, 2023.

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 Sept. 15, 2023, to holders of record as of the close of business on Aug. 31, 2023.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. 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. 47 on Fortune’s 2023 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 | Twitter: @WellsFargo

News Release Category: WF-CF

View source version on businesswire.com: https://www.businesswire.com/news/home/20230818270877/en/

Media

Beth Richek, 704-374-2545

Beth.Richek@wellsfargo.com



Investor Relations

Tanya Quinn, 415-396-7495

tanya.quinn@wellsfargo.com

Source: Wells Fargo & Company