Wells Fargo reports preferred stock dividends

Wells Fargo & Company has set quarterly cash dividends for 11 series of preferred stock, all payable on March 15 to holders of the stock as of close of business on February 28, the company reported recently.
 
The company’s 8.00 percent non-cumulative perpetual class A preferred stock, Series J, will bear a quarterly cash dividend of $20 per share, corresponding to $0.50 per depositary share, which represents 1/40th of a share of Series J preferred stock. Holders of Series L stock -- a 7.50 percent non-cumulative perpetual convertible class A preferred stock -- will receive dividends of $18.75 per share.
 
Series N, O, P, Q, R, T, V, W and X all have depository shares amounting to 1/1,000th interest in a share.
 
The 5.20 percent and 5.125 percent non-cumulative perpetual class A preferred stocks, Series N and, O have quarterly dividends of $325 and $320.31 and corresponding depository share dividends of $0.325 and $0.32031, respectively. The company declared a dividend of $328.13 for its 5.25 percent non-cumulative perpetual class A stock, Series P, or $0.32813 per depository share; $365.63 for its 5.85 percent non-cumulative perpetual class A preferred stock, Series Q, or $0.36563 per depository share; and $414.06 per share on its 6.625 percent non-cumulative perpetual preferred stock, Series R, or $0.41406 per depository share.

The 6.00 percent non-cumulative perpetual class A preferred stock, Series T, will pay a cash dividend of $375 per share and $0.375 per depository share, as will the 6.00 percent non-cumulative perpetual class A preferred stock, Series V. Finally, the 5.70 percent non-cumulative perpetual class A preferred stock, Series W, will pay a dividend of $365.25 per share and $0.36525 per depository and the 5.50 percent non-cumulative perpetual class A preferred stock, Series X, will pay a dividend of $343.75 and $0.34375 per depository share.